May was a stable month for Bigbank - both the loan and deposit portfolios grew at a steady pace, and profitability remained at a solid level.
The loan portfolio increased by a total of 43 million euros in May. The largest contributions came from business loans and home loans, which grew by 22 million and 15 million euros, respectively. The consumer loan portfolio grew by 6 million euros.
The deposit portfolio grew by a total of 26 million euros in May. In a declining interest rate environment, the savings deposit product became more attractive to customers, with its portfolio increasing by 18 million euros during the month. The term deposit portfolio also returned to growth, increasing by 8 million euros.
It is encouraging that despite falling interest rates, Bigbank has increased its net interest income during the first five months of 2025. The strong growth of the loan portfolio, along with maintaining the deposit portfolio at an optimal volume and pricing level, has offset the decline in interest income caused by the drop in Euribor and the upward pressure on interest expenses resulting from the growth of the deposit portfolio. As of the end of May, net interest income for 2025 exceeded the result for the same period in 2024 by 1 million euros.
A positive development was the continued decline in net allowances for expected credit losses and provision expenses compared to 2024. In May, the expense amounted to 0.9 million euros, bringing the total for the five-month period to 6.7 million euros - 4.4 million euros, or 40%, less than in the same period last year. This improvement was primarily driven by better repayment behaviour in the consumer loan segment across all three Baltic countries.
Net profit for May was 3.4 million euros, representing a strong result. In addition to the increase in net interest income and the decline in net expected credit losses, net fee and commission income rose by 0.5 million euros over the five-month period, while administrative expenses decreased by 0.4 million euros.
Behind the bank's growth and profitability is a strong team, which had grown to 600 employees by the end of May. The expansion of the team, combined with salary increases, led to a 2.2 million euro rise in personnel expenses over the five-month period.
A negative development was the 1.3 million euro increase in income tax expenses over the same period, mainly due to higher income tax rates introduced in Estonia and Lithuania at the beginning of 2025.
Bigbank's key financial indicators for May 2025:
- Customer deposits and loans received increased by 357 million euros over the year, reaching 2.57 billion euros (+16%).
- Loans to customers grew by 564 million euros year-on-year, reaching 2.41 billion euros (+31%).
- Net interest income totalled 8.8 million euros in May; the five-month total reached 42.8 million euros. Compared to the same period last year, net interest income increased by 1.0 million euros (+2%).
- Net allowance for expected credit losses and provision expenses totalled 6.7 million euros in the first five months of the year, down 4.4 million euros or 40% year-on-year.
- Net profit in May was 3.4 million euros. Cumulative profit for the first five months amounted to 16.3 million euros, an increase of 2.9 million euros or 22% compared to the same period in 2024.
- Return on equity in May was 14.7%.
| Income statement, in thousands of euros | May 2025 | YTD25 | YTD24 | Difference YoY | |
| Total net operating income, incl. | 9,480 | 47,716 | 45,983 | 1,733 | +4% |
| Net interest income | 8,827 | 42,785 | 41,747 | 1,038 | +2% |
| Net fee and commission income | 820 | 4,197 | 3,652 | 544 | +15% |
| Total expenses, incl. | -4,377 | -20,862 | -18,922 | -1,940 | +10% |
| Salaries and associated charges | -2,749 | -12,742 | -10,542 | -2,199 | +21% |
| Administrative expenses | -919 | -4,569 | -4,938 | 369 | -7% |
| Profit before loss allowances | 5,103 | 26,853 | 27,060 | -207 | -1% |
| Net allowance for expected credit losses and provision expenses | -866 | -6,679 | -11,076 | 4,397 | -40% |
| Income tax expense | -844 | -3,882 | -2,615 | -1,267 | +48% |
| Profit for the period from continuing operations | 3,392 | 16,292 | 13,369 | 2,923 | +22% |
| Profit or loss before tax from discounted operations | 0 | 0 | 29 | -29 | |
| Profit for the period | 3,392 | 16,292 | 13,398 | 2,894 | +22% |
| Business volumes, in thousands of euros | May 2025 | YTD25 | YTD24 | Difference YoY | |
| Customer deposits and loans received | 2,574,153 | 2,574,153 | 2,216,907 | 357,246 | +16% |
| Loans to customers | 2,413,543 | 2,413,543 | 1,849,189 | 564,354 | +31% |
| Key figures | May 2025 | YTD25 | YTD24 | Difference YoY | |
| ROE | 14.7% | 14.3% | 13.0% | +1.3pp | |
| Cost / income ratio (C/I) | 46.2% | 43.7% | 41.2% | +2.6pp | |
| Net promoter score (NPS) | 55 | 58 | 58 | +0 | |
Compared to the financial results published for May 2024, the net interest income and the net allowance for expected credit losses for the prior period have been adjusted, both reduced by 1.1 million euros. The adjustment is related to an identified error, where interest income from impaired financial assets had been accrued on the gross exposure rather than on a net basis. This correction does not impact the net profit for May 2024.
Bigbank AS (www.bigbank.eu), with over 30 years of operating history, is a commercial bank owned by Estonian capital. As of 31 May 2025, the bank's total assets amounted to 3.0 billion euros, with equity of 278 million euros. Operating in nine countries, the bank serves more than 172,000 active customers and employs 600 people. The credit rating agency Moody's has assigned Bigbank a long-term bank deposit rating of Ba1, along with a baseline credit assessment (BCA) and an adjusted BCA of Ba2.
Argo Kiltsmann
Member of the Management Board
Telephone: +372 5393 0833
Email: argo.kiltsmann@bigbank.ee
www.bigbank.ee
