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

Inbank’s second-quarter consolidated net profit was 3.8 million euros, up 41% from last year. Half-year profit reached 7.7 million euros, a 71% increase from a year ago. Asset volume was 1.42 billion euros, with loan and lease services portfolio growing by 15% to 1.08 billion euros. Inbank had 895,000 active client contracts and 6,100 active partners by the end of the second quarter.

Commenting on the results, Inbank CEO Priit Põldoja highlighted a 29% increase in total revenue compared to the previous year’s second quarter. Sales in the Baltics remained stable, while sales in Poland decreased slightly. Sales in the Czech Republic more than doubled, exceeding 10 million euros in the second quarter.

Inbank’s concerted efforts in the past year and a half to reprice products across all markets have paid off, leading to improved financial results. Loan loss expense was at 1.5% of the loan portfolio, remaining below the target of 1.6%. The company is focusing on balanced growth and aims to invest in new growth opportunities starting from the second half of 2024.

Key financial figures as of June 30, 2024, include total assets of 1.42 billion euros, a loan and lease portfolio of 1.08 billion euros, and a deposit portfolio of 1.18 billion euros. Inbank’s net profit was 3.8 million euros, with a return on equity of 11.6%. The company’s consolidated profit and loss statement for the second quarter of 2024 is presented.



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