Inbank began raising deposits through CHECK24, Germany’s leading online comparison portal. The new cooperation strengthens Inbank’s funding base and increases its presence in one of Europe’s largest and most dynamic deposit markets.
“Launching cooperation with CHECK24 enables us to expand our presence in the German deposit market, which is a strategically important and attractive source of funding for Inbank. Since Inbank finances itself primarily through term deposits, this additional partnership is significant for increasing the flexibility of our funding base as well as diversifying our deposit portfolio. Currently, deposits from Germany already account for nearly a quarter of our total deposit portfolio,” said Inbank’s CFO Marko Varik.
As of the third quarter of this year, Inbank’s total deposit portfolio exceeded €1.3 billion, and the bank holds more than 120,000 deposit customer contracts in Estonia, Lithuania, Poland, Czechia, Austria, the Netherlands, and Germany. Inbank began raising deposits in Austria, the Netherlands and Germany in 2016, gradually expanding its funding base across Central European markets. Over the past year, Inbank’s deposit portfolio has grown by 13%.
CHECK24 is Germany’s largest online comparison portal, helping consumers conveniently and securely find suitable banking products and manage their finances more efficiently. The platform brings together a wide range of financial services – from deposits and consumer financing to various banking products. In addition, CHECK24 enables users to compare insurance, energy and telecommunications services and provides a comprehensive overview of other everyday service providers.
