Inbank unaudited financial results for Q4 and 12 months of 2024

In 2024, Inbank exhibited strong growth in total net income and net profit, and completed a landmark significant risk transaction (SRT) with the European Investment Bank Group (EIB).  In 2024, total net income reached 75.5 million euros, increasing by 26% year-on-year, driven by expanding margins and growing portfolio volumes across both the Baltics and CEE regions.The consolidated net profit for the year amounted to 12.2 million euros, growing 20% year-on-year and return on equity...

Tallinn, 25/02/2025 (informazione.news - comunicati stampa - economia)

Results for Q4 2024

Priit Põldoja, Chairman of the Management Board, comments on the results:

“Inbank closed 2024 with a record revenue and sales result. Our GMV for the fourth quarter ended on a strong note, reaching an all-time sales record of 191 million euros, marking a 14% increase year-on-year. We also achieved a record quarterly total income of 20.7 million euros, up 28% from the same period last year. 

For the full year Inbank recorded a net profit of 12.2 million euros in 2024, which is 20% higher than a year earlier. These results include several one-off events which impacted our annual profit significantly. During the year we focused on improving margins and streamlined our product portfolio by exiting credit card business. Without one-off events Inbank profit increased by 51% to 15.4 million euros. 

In November, Inbank signed a synthetic securitization transaction with the European Investment Bank Group (EIB). The 147 million euro deal was backed by Inbank's solar panel loans to private individuals in Poland, marking the first transaction of its kind in the Polish market. This initiative provided Inbank with 11 million euros in CET1 capital relief at the time of execution. Combined with the equity rise in August, Inbank has significantly strengthened its capital base to support future growth.

As a result of the work done during 2024, Inbank business is more focused, our organization is better aligned and our capital base is stronger entering 2025. In anticipation of a more favorable interest rate environment, and growing consumer confidence in our key markets, we remain committed to driving growth and improving our financial performance in coming years.”

Key financial indicators as of 31.12.2024 and for Q4

Total assets EUR 1.44 billion 
Loan and rental portfolio EUR 1.15 billion 
Deposit portfolio EUR 1.17 billion 
Total equity EUR 148 million
Net profit EUR 1.4 million
Return on equity 3.7%

Consolidated income statement (in thousands of euros)

Consolidated statement of financial position (in thousands of euros)

Inbank is a financial technology company with an EU banking license that connects merchants, consumers and financial institutions on its next generation embedded finance platform. Partnering with more than 6,000 merchants, Inbank has 872,000+ active contracts and collects deposits across 7 markets in Europe. Inbank bonds are listed on the Nasdaq Tallinn Stock Exchange.

Additional information:
Styv Solovjov
AS Inbank
Head of Investor Relations
+372 5645 9738
styv.solovjov@inbank.ee

Attachment