Inbank unaudited financial results for Q2 and 6 months of 2025

Read the full Q2 2025 report HERE.

• Inbank’s total net income for the second quarter reached 20.7 million euros, increasing 8.4% year-on-year. Income from core activities, excluding financial and other income, grew by 15.3% to 21.1 million euros compared to 18.3 million euros year-on-year. Total operating expenses amounted to 11.6 million euros, which is a 7.1% increase year-on-year. As a result, Inbank’s cost / income ratio improved to 55.9% for the quarter.

• In Q2 2025, Inbank delivered record-breaking sales with an originated volume of 196 million euros, which is 15% more than a year ago. The strong performance was primarily driven by high demand for green financing products in Poland and record-high direct lending volumes across all Inbank markets. 

• Green financing grew 86% compared to a year ago and reached 36.9 million euros during the quarter. Direct lending grew by 44%, reaching 32.1 million euros. Merchant solutions remained Inbank’s largest segment, with sales reaching 66.5 million euros, an increase of 3%. Car financing reached 47.1 million euros, showing signs of recovery following a challenging Q1, though remaining 10% below year-on-year. Rental services delivered 13.1 million euros, marking a 25% increase year-on-year. 

• The loan and rental portfolio reached 1.21 billion euros increasing 11.2% year-on-year, while the deposit portfolio grew by 4.9% to 1.23 billion euros. As of the end of Q2, Inbank’s total assets stood at 1.5 billion euros growing 5% year-on-year.

• Impairments on loans and receivables increased by 18.1% to 4.9 million euros and accounted for 1.64% of the average loan and rental portfolio, slightly exceeding our target. However, for the first half of the year, impairments remained within target at 1.59%

• By the end of Q2, the number of active customer contracts reached 931,000 and 5,700 active partners. 

Priit Põldoja, CEO, comments on the results:

“In the first half of 2025, Inbank’s growth has been more measured. While we achieved a record high originated volume this quarter and are likely to surpass it in coming periods, we have maintained a disciplined approach to growth opportunities. Inbank’s market share continues to expand across the Baltics. By the end of 2024, we reached 20.3% market share in consumer lending in Estonia. As interest rates decline, our margins continue to improve. However, to continue on our profitable growth path, we need to explore new niches in a €50bn Polish consumer finance market beyond our successful solar panel business and build our presence in Czechia. The last quarter marked a step in that direction, with record sales of 78 million euros in the Central and Eastern Europe (CEE) region.

Inbank continues to grow not only geographically, but also by expanding its product offerings. In the last quarter, we launched payment protection insurance in Latvia and Lithuania, completing our presence with this product across all Baltic countries. Expanding our range of fee-based products for our large customer base remains an important strategic focus for Inbank.

In early Q2, Inbank strengthened its Supervisory Board by appointing Erkki Raasuke as independent Chairman and welcoming two new members: Isabel Faragalli, a seasoned debt capital markets professional, and Sergei Anikin, an experienced tech leader. We look forward to working with the new Board to drive Inbank’s European embedded finance growth strategy in the years ahead.”

Key financial indicators as of 30.06.2025

• Total assets EUR 1.50 billion 

• Loan and rental portfolio EUR 1.21 billion

• Customer deposits EUR 1.23 billion

• Total equity EUR 156 million

• Net profit EUR 3.6 million

• Return on equity 9.3%