From GlobeNewswire: 2025-02-25 01:00:00

In 2024, Inbank achieved strong growth in total revenue and net profit, completing a significant synthetic securitization transaction with the European Investment Bank group (EIP). Total revenue reached €75.5 million, a 26% increase from the previous year, driven by growing margins and portfolio volumes in the Baltic countries and Central and Eastern Europe. Net profit grew by 20% to €12.2 million. The loan and lease portfolio reached €1.15 billion, growing by 11% from the previous year. Inbank recorded record sales volume of €715 million and a 4% increase in gross merchandise volume (GMV) in 2024.

In the fourth quarter of 2024, Inbank achieved a record total revenue of €20.7 million, a 28% increase from the same period the previous year. Net profit for the quarter decreased to €1.4 million, primarily due to extraordinary costs related to the closure of the credit card business. The loan portfolio’s internal interest rate rose to 11.63%, while the net interest margin improved to 5.77%. Despite challenges like inflation, Inbank maintained strong credit quality, with loan losses at 1.65% of the average credit portfolio.

In 2024, Inbank’s business focused on improving margins and simplifying the product portfolio, exiting the credit card business. Excluding one-time events, Inbank’s profit was €15.4 million, a 51% increase from the previous year. In November, Inbank signed a synthetic securitization deal with the EIP, strengthening its capital base. The company’s business is now clearer, more focused, and poised for growth in 2025. Key financial figures as of December 31, 2024, include assets of €1.44 billion, a loan and lease portfolio of €1.15 billion, and a net profit of €1.4 million in the fourth quarter.

Inbank, a financial technology company with an EU banking license, operates an embedded finance platform connecting merchants, consumers, and financial institutions. With over 6,000 merchant partners, Inbank has over 872,000 active contracts and collects deposits in seven European countries. Inbank’s bonds are listed on the Nasdaq Tallinn stock exchange. For more information, contact Styv Solovjov, Inbank’s investor relations manager, at 5645 9738 or [email protected].



Read more at GlobeNewswire:: Inbanki 2024. aasta neljanda kvartali ja 12 kuu