Inbank unaudited financial results for Q4 and 12 months of 2025

• In 2025, total net income reached €85.1 million, increasing 13% year-on-year, while operating expenses remained broadly flat at €46.3 million. As a result, net profit increased 57% to €19.2 million and return on equity improved to 12.3%. The cost-income ratio improved to 54.4%.
• In 2025, Inbank’s originated volume grew by 10% year-on-year to a record €770 million. Growth was driven by strong performance in Central and Eastern Europe, where originated volume increased 23% to €309 million, while Baltics volumes grew 3% to €462 million. 
• Merchant solutions remained the largest segment, reaching €272 million in originated volume, increasing 7% year-on-year, driven mainly by strong Buy Now, Pay Later demand across the Baltics. Green financing was the strongest contributor to growth, increasing 65% to €146 million, supported by demand in Poland. Direct lending increased 33% to €119 million. Car financing originated volume declined 15% to €178 million, while rental services remained stable at €54 million. Both car financing and rental volumes were significantly impacted by the introduction of Estonia’s car tax at the beginning of 2025.
• By year-end, Inbank’s loan and rental portfolio grew 11% year-on-year to €1.28 billion, while customer deposits increased 11% year-on-year to €1.3 billion. Total assets reached €1.58 billion at the end of 2025. 
• Credit quality remained within target throughout the year, with annual credit costs at 1.59% of the average loan and rental portfolio. 
• Inbank’s capital position remained strong. As of 31 December 2025, the total capital ratio stood at 18.81% and the CET1 ratio at 14.13%. 
• By the end of 2025, Inbank had 900,000 active customer contracts and over 6,000 active retail merchants. 

Results for Q4 2025

• In the fourth quarter, results were impacted by a one-off positive effect from the reassessment of Polish tax assets and a low comparison base from the prior year. Excluding the positive tax effect in Poland, Q4 2025 net profit would have been €4.5 million and ROE 10.8%. 
• In Q4 2025, Inbank’s total net income amounted to €21.8 million, up 5% year-on-year. Operating expenses increased to €12.2 million, reflecting continued investments in growth and platform development. Expenses were up 7% from the previous quarter and down 14% year-on-year.
• In Q4 2025, originated volume reached €203 million, representing an 8% year-on-year increase. Merchant solutions remained Inbank’s largest sales segment in Q4, reaching €77 million in originated volume, representing a 22% year-on-year increase, driven by Buy Now, Pay Later demand across the Baltics. Green financing grew 48% year-on-year and reached €37 million, supported by sustained demand in Poland. Direct lending reached €30 million, increasing 29% year-on-year. Auto marketplaces and dealer financing totalled €42 million, decreasing 25% year-on-year, and rental services generated €17 million, decreasing 18% year-on-year. Both segments were significantly impacted by the introduction of Estonia’s car tax at the beginning of 2025 and a higher comparative base in Q4 2024.
• Credit impairment losses were 1.64% of the average loan and rental portfolio in Q4.
• In October, Inbank issued €8 million of new Tier 2 bonds at an interest rate of 6.25%. In December, Inbank issued €5.3 million in new shares through a direct offering, strengthening the Group’s capital base. 
• In December, Inbank increased its stake in Mobire Group to 100%, becoming the sole owner of the Baltics’ leading full-service car rental company. 

Priit Põldoja, CEO of Inbank, comments:

“Inbank closed 2025 with solid underlying momentum. The year was, in many respects, one of two halves. In the first quarter, we were still recovering from the higher interest rates and slower growth of 2024. In the spring, we decided to accelerate our growth ambitions and increased sales across most markets and product groups. As a result, originated volume grew by 10% to a record €770 million, and we increased net profit by 57% year-on-year, marking our 14th consecutive year of profitability. 

Against the backdrop of accelerating business volumes in Central and Eastern Europe and declining market interest rates, we improved margins and kept operating expenses under control, while credit costs remained within our target range. The fourth quarter results were impacted by a one-off positive tax effect in Poland and a low comparison base. Strong sales across core products, improved profitability, and continued progress in product development and new partnerships position Inbank well for 2026.”

Key financial indicators as of 31.12.2025

• Total assets €1.58 billion
• Loan and rental portfolio €1.28 billion
• Customer deposits €1.3 billion
• Total equity €171 million
• Net profit €19.2 million
• Return on equity 12.3%