From GlobeNewswire: 2024-08-07 01:00:00

In Q2 2024, Inbank saw a 41% increase in consolidated net profit, totaling 3.8 million euros. The half-year net profit was up 71% year-on-year, reaching 7.7 million euros. The return on equity for the quarter was 11.6%. Loan and rental portfolio increased by 15% to 1.08 billion euros, and deposit portfolio grew by 22% to 1.18 billion euros. Total assets stood at 1.42 billion euros by the end of Q2.

Key financial indicators as of Q2 2024 include total assets of 1.42 billion euros, a loan and rental portfolio of 1.08 billion euros, deposit portfolio of 1.18 billion euros, equity of 133.1 million euros, net profit of 3.8 million euros, and a return on equity of 11.6%. Sales results remained stable in the Baltics, decreased slightly in Poland, and more than doubled in Czechia.

Priit Põldoja, Chairman of Inbank’s Management Board, highlighted the 29% growth in net income and 17% increase in operating expenses compared to the same quarter last year. Inbank’s sales results in the Baltic, Poland, and Czechia markets were stable. The company expects its credit costs to remain within the target of 1.6% and plans to continue investing in growth opportunities.

Inbank, a financial technology company with an EU banking license, reported a strong financial performance in Q2 2024. With 6,100 merchant partners, the company has over 895,000 active contracts and operates in 7 markets in Europe. Inbank bonds are listed on the Nasdaq Tallinn Stock Exchange. Contact Merit Arva, Head of Communications, for more information.



Read more at GlobeNewswire:: Inbank unaudited financial results for Q2 and 6 months