- Profit. In the first half of this year, the Group earned a net profit of €23.2 million
- Deposit portfolio. The deposit portfolio grew by 15% during the year, exceeding €4 billion
- Loan portfolio. The loan portfolio exceeded €3.9 billion and increased by 8% during the year
- Fee and commission income. Net fee and commission income increased by 6% year-on-year to over €16 million.
- Asset quality. The quality of the loan portfolio remains strong - the cost of risk (CoR) stood at 0.01%
- Management change. After the reporting period Tomas Varenbergas has taken over as acting CEO and Chair of the Management Board at Artea Bank.
"Business growth is accelerating in the second quarter of the year, driven by robust new lending in the corporate and mortgage segments with loan book approaching €4 billion. Interest income was complemented by strong fee and commission income.
Growth and strength of our core lending business delivered solid adjusted net profit results, although they were affected by the one-off, non-cash goodwill impairment stemming from the pension reform and linked to the former merger of retail asset management business," says Tomas Varenbergas, acting CEO of Artea Bank.
The Artea Bank Group earned €23.2 million in net profit in H1 2026, 27% less than in the same period of 2025. Operating profit before impairment and income tax amounted to €40.6 million, down 5% compared to H1 2025 (€42.9 million).
Net interest income increased by 6% year-on-year to over €72.5 million, compared to H1 2025, while net fee and commission income increased by 6% to €16 million.
Demand for financing increased at the first half of the year - new loan agreements worth almost €1.0 billion were signed in the first half of this year, 3% more than in the same period a year ago. The loan portfolio has grown by 7% (€250 million) since the start of the year, or 8% year-on-year, exceeding €3.9 billion.
Quality of the loan portfolio remains strong: €0.3 million impairment loss provisions were formed in the first half of 2026 (€4.2 million in the first half of 2025). The cost of risk (CoR) ratio stood at 0.01% at the end of H1 2026 (0.24% at the end of H1 2025).
The customer deposit portfolio has grown by 3% (€99 million) since the start of the year, or 15% year-on-year, and exceeded €4 billion at the end of the half. During the first half of this year, the demand deposit portfolio grew by 11% (€231 million) to €2.3 billion, while the time deposit portfolio decreased by 7% (€132 million) to €1.8 billion.
The Group's cost/income ratio at the end of H1 2026 was 56.8% (55.2% at the end of H1 2025) and return on equity was 7.8% (11.1% in the corresponding period of 2025).
Capital and liquidity positions remain strong. All regulatory requirements and prudential ratios are being met by a wide margin to ensure resilience to market volatility: Total Capital Ratio (TCR) stood at 21.5%¹ and Liquidity Coverage Ratio (LCR) at 179%¹.
| Income Statement (€'m) | 2026 6M | 2025 6M | % ? | ||||
| Net Interest Income | 72.5 | 68.4 | 6% | ||||
| Net Fee and Commission Income | 16.0 | 15.1 | 6% | ||||
| Other Income | 5.4 | 12.3 | -56% | ||||
| Total Revenue | 94.0 | 95.8 | -2% | ||||
| Salaries and Related Expenses | -28.7 | -27.6 | 4% | ||||
| Other Operating Expenses | -24.6 | -25.3 | -3% | ||||
| Total Operating Expenses | -53.3 | -52.9 | 1% | ||||
| Operating Profit | 40.6 | 42.9 | -5% | ||||
| Provisions | -10.3 | -3.8 | 174% | ||||
| Share of profit or loss from investments in subsidiaries accounted for using the equity method | -0.2 | 0.0 | - | ||||
| Income Tax Expense | -6.9 | -7.2 | -4% | ||||
| Net Profit | 23.2 | 31.9 | -27% | ||||
| Balance Sheet Metrics (€'m) | 2026.06.30 | 2025.12.31 | % ? | ||||
| Loan Portfolio | 3 964 | 3 714 | 7% | ||||
| Deposit Portfolio | 4 061 | 3 961 | 3% | ||||
| Equity | 596 | 603 | -1% | ||||
| Assets under Management2 | 1 800 | 2 151 | -16% | ||||
| Assets under Custody | 2 203 | 2 046 | 8% | ||||
| Key indicators | 2026 6M | 2025 6M | - | ||||
| Net Interest Margin (NIM) | 2.4% | 2.9% | -49bp | ||||
| Cost-to-Income Ratio (C/I) | 56.8% | 55.2% | +154bp | ||||
| Return on Equity (RoE) | 7.8% | 11.1% | -330bp | ||||
| Cost of Risk (CoR) | 0.01% | 0.24% | -22bp | ||||
| Total Capital Ratio (TCR)1 | 21.5% | 23.5% | -197bp | ||||
Overview of business segments
Corporate clients
Corporate client activity reflected the usual seasonal slowdown at the beginning of 2026, but the second quarter already brought a significant recovery in both new customer acquistion and new corporate financing volumes. New corporate financing agreements worth €0.4 billion were signed in the second quarter, up by 71% compared to the first quarter, bringing the total value of new agreements to €0.6 billion since the start of the year. The overall corporate loan portfolio exceeded €2.1 billion, a 9% increase year-on-year.
Loan portfolio quality remained very strong, with a corporate loan CoR of -0.01% in the first half of 2026.
Bond issuance activity in the Baltic states notably increased in the second quarter of 2026 returning to active phase following a typically quieter start to the year. Artea Bank took a leading position among Baltic intermediaries, with the highest number of issuances. This confirms that the ambitious pipeline of potential issuances is translating into transactions, with both issuer confidence in capital markets and investor demand for bonds remaining strong.
Private clients
Demand for mortgages remained particularly strong, with new mortgage agreements up 9% in the second quarter to €69 million, bringing the total value of new agreements to over €0.1 billion since the start of the year. The mortgage portfolio increased 7% (€74 million) in the 2026, or 10% year-on-year, exceeding €1.1 billion.
Demand for consumer financing also remained strong, with new consumer loan agreements up 16% in the second quarter to €66 million, bringing the total value of new agreements to over €0.1 billion since the start of the year. In the first half of 2026, following the pension reform, portion of the funds withdrawn under the pension reform was used to repay consumer loans. Despite that consumer loan portfolio grew 1% (€5 million) in the first half of the year, or 5% year-on-year, exceeding €0.38 billion.
As the periodic withdrawals from Pillar 2 pension funds introduced under the Pension reform continues, Artea Asset Management again demonstrated the strongest resilience in the market and stood out among other fund managers by retaining the relatively largest share of assets under management as was also the case after the first quarter of this year. After the second quarter, the number of clients withdrawing from Pillar 2 pension funds was four times lower than after the previous quarter.
The impact of client outflows in the second quarter was partly offset by strong investment management performance and notable inflows into Pillar 3 pension funds.
The Artea ETF Select service, launched at the start of 2026 and enabling clients to invest in professionally selected ETFs without transaction or custody fees, continued to show strong growth in Q2. The significant number of investors confirms the trend of investors increasingly opting for simple, transparent and cost-efficient investment solutions, driving rapid growth in the passively managed ETF segment in Lithuania.
1 preliminary data
2 includes assets managed by asset management and modernization funds
Artea Bank invites shareholders, investors, analysts and all interested parties to a webinar presentation of the financial results and highlights for H1 2026. The webinar will start at 08:30 am (EEST) on July 30, 2026. The webinar will be held in English. Please register here-
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Additional information:
Arnas Šukys,
Head of Investor Relations
arnas.sukys@artea.lt; +370 610 44447
