Inbank's Thriving 2024: A Financial Overview of Growth
Inbank's Annual Report for 2024 Highlights Growth
The consolidated Annual Report for 2024 marks a significant milestone for Inbank, showcasing impressive financial results and expansion strategies. This detailed report will be available on the Inbank investor website for those interested in a deeper look.
Impressive Financial Performance
Inbank's total net income for 2024 reached an impressive 75.5 million euros, representing a robust increase of 26% compared to the previous year. This growth was primarily fueled by expanded margins and a substantial increase in portfolio volumes throughout the Baltics and CEE regions.
Profits on the Rise
During the year, the consolidated normalised net profit rose by 51% year-on-year, reaching 15.4 million euros. This resulted in a normalised return on equity (ROE) of 11.3%. When accounting for one-off expenses, the net profit amounted to 12.2 million euros, marking a 20% increase year-on-year with an ROE of 9%.
Portfolio Growth and Asset Management
Inbank's financial stability is reflected in its loan and rental portfolio, which grew to 1.15 billion euros, a noteworthy increase of 11% compared to the prior year. The deposit portfolio also saw growth, increasing by 8% to 1.17 billion euros. By year-end, Inbank’s total assets reached 1.44 billion euros, representing a 9% annual growth.
Record Gross Merchandise Value
Inbank achieved a record Gross Merchandise Value (GMV) of 715 million euros, indicating a year-on-year growth of 4%, which highlights the strengthening of their market position. By the end of 2024, the number of active customer contracts rose to 872,000, along with over 6,000 active retail partners actively collaborating with Inbank.
Key Financial Indicators as of Year-End 2024
Here are the essential financial indicators for Inbank as of December 31, 2024:
- 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 12.2 million
- Return on Equity: 9.0%
About Inbank
Inbank is a forward-thinking financial technology company that leverages an EU banking license to connect merchants, consumers, and financial institutions through its innovative embedded finance platform. The company collaborates with more than 6,000 merchants, boasting over 872,000 active contracts, and has a solid presence across seven European markets. Inbank's bonds are listed on the Nasdaq Tallinn Stock Exchange, further solidifying its reputation within the financial domain.
Contact Information
For additional insights or inquiries, contact:
Styv Solovjov
AS Inbank
Head of Investor Relations
+372 5645 9738
styv.solovjov@inbank.ee
Frequently Asked Questions
What is the total net income reported by Inbank for 2024?
Inbank reported a total net income of 75.5 million euros for the year 2024, which is a 26% increase year-on-year.
How much did Inbank's loan and rental portfolio grow?
The loan and rental portfolio grew to 1.15 billion euros, representing an 11% increase compared to the previous year.
What was Inbank's normalised ROE for 2024?
Inbank achieved a normalised return on equity (ROE) of 11.3% for the year 2024.
How many active customer contracts does Inbank have?
By the end of 2024, Inbank had 872,000 active customer contracts.
What is Inbank's presence in the market?
Inbank operates across seven European markets and partners with over 6,000 merchants, showcasing its significant market presence.
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