November was characterised by growth in strategic loan products and term deposits, a decrease in the share of non-performing loans, and satisfactory profitability.
The loan portfolio grew by 25 million euros during the month, reaching 2.6 billion euros by the end of November. Growth was driven by business loans, which increased by 33 million euros, and home loans, which grew by 14 million euros. The consumer loan portfolio decreased by 22 million euros. A significant part of this decline was due to the sale of the entire loan portfolio of the Swedish branch to another Swedish credit institution on 6 November 2025. As a result of the transaction, Bigbank's Swedish branch will continue to operate solely as a deposit-taking entity.
The deposit portfolio increased by 32 million euros in November. Deposit interest rates have started to rise slightly in the markets, in line with the recent modest upward movement of Euribor. This has particularly affected interest rates on longer-term deposits and increased customer demand for them. Growth in the deposit portfolio was mainly driven by term deposits, which grew by 28 million euros, while the savings deposit portfolio increased by 1 million euros.
In all Baltic countries, Bigbank customers can use market-leading current accounts for everyday banking: clients earn 2% annual interest on idle funds, and all transactions are free of charge. The total balance of current accounts grew by 3 million euros in November, reaching 16 million euros by the end of the month.
The stabilising interest rate environment continues to reduce pressure on net interest income. As time goes on, loan portfolio growth increasingly drives year-on-year interest income comparisons, while the impact of falling interest rates diminishes. Net interest income increased by 2.3 million euros over the first eleven months compared to the previous year.
Compared to the first eleven months of 2024, net allowances for expected credit losses and provision expenses decreased by a total of 9.5 million euros, or 47%. The main reason for this improvement has been better payment behaviour in consumer loans across all three Baltic countries.
The share of non-performing loans (Stage 3) decreased from 4.5% at the end of October to 4.2%. The sale of the Swedish branch's loan portfolio made a significant contribution to this reduction in November.
Net profit for November was 2.7 million euros. In addition to the growth in net interest income and the reduction in credit losses, net fee income increased by 1.4 million euros over the eleven-month period.
At the end of November, Bigbank employed 631 people. Team expansion and salary growth resulted in a 6.4 million euro increase in salary expenses over the first eleven months compared to the previous year. As a negative development, income tax expenses rose by 1.7 million euros due to higher tax rates introduced in Estonia and Lithuania at the beginning of 2025.
Bigbank's key financial indicators for November 2025:
- Customer deposits and loans received increased by 439 million euros year-on-year, reaching 2.8 billion euros (+18%).
- Loans to customers grew by 497 million euros year-on-year, reaching 2.6 billion euros (+23%).
- Net interest income totalled 8.6 million euros in November; the eleven-month total reached 96.7 million euros. Compared to the same period last year, net interest income increased by 2.3 million euros (+2%).
- Net allowance for expected credit losses and provision expenses totalled 10.9 million euros in the first eleven months of the year, down 9.5 million euros or 47% year-on-year.
- Net profit in November was 2.7 million euros. Cumulative profit for the first eleven months amounted to 36.0 million euros, an increase of 2.6 million euros or 8% compared to the same period in 2024.
- Return on equity in November was 11.0%.
| Income Statement (in thousands of euros) | November 2025 | 11 months 2025 | 11 months 2024 | Year-on-Year Difference | |
| Total net operating income, incl. | 9,111 | 104,977 | 103,415 | 1,563 | +2% |
| Net interest income | 8,575 | 96,687 | 94,425 | 2,262 | +2% |
| Net fee and commission income | 904 | 9,685 | 8,335 | 1,350 | +16% |
| Total expenses, incl. | -4,924 | -49,498 | -42,703 | -6,796 | +16% |
| Salaries and associated charges | -3,207 | -30,825 | -24,377 | -6,448 | +26% |
| Administrative expenses | -1,097 | -11,095 | -10,663 | -431 | +4% |
| Profit before loss allowances | 4,187 | 55,479 | 60,712 | -5,233 | -9% |
| Net allowance for expected credit losses and provision expenses | -838 | -10,893 | -20,431 | 9,538 | -47% |
| Income tax expense | -619 | -8,593 | -6,872 | -1,721 | +25% |
| Profit for the period from continuing operations | 2,730 | 35,993 | 33,409 | 2,584 | +8% |
| Profit or loss before tax from discounted operations | 0 | 0 | 29 | -29 | |
| Profit for the period | 2,730 | 35,993 | 33,438 | 2,555 | +8% |
| Business Volumes (in thousands of euros) | November 2025 | 11 months 2025 | 11 months 2024 | Year-on-Year Difference | |
| Customer deposits and loans received | 2,811,878 | 2,811,878 | 2,372,949 | 438,929 | +18% |
| Loans to customers | 2,645,110 | 2,645,110 | 2,148,452 | 496,657 | +23% |
| Key figures | November 2025 | 11 months 2025 | 11 months 2024 | Year-on-Year Difference | |
| ROE | 11.0% | 13.8% | 14.1% | -0.3pp | |
| Cost / income ratio (C/I) | 54.0% | 47.2% | 41.3% | +5.9pp | |
| Net promoter score (NPS) | 57 | 59 | 57 | +2 | |
Compared to the financial results published for November 2024, the net interest income and net allowance for expected credit losses for the same period last year have been adjusted, reducing both by 2.8 million euros. The adjustment is related to an identified error, where interest income from impaired financial assets had been calculated based on the gross position of the assets rather than on a net basis. This correction does not impact the net profit for November 2024.
Bigbank AS (www.bigbank.eu), with over 30 years of operating history, is a commercial bank owned by Estonian capital. As of 30 November 2025, the bank's total assets amounted to 3.2 billion euros, with equity of 298 million euros. Operating in nine countries, the bank serves over 176,000 active customers and employs more than 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.eu
