Bigbank’s loan portfolio grows by 54.9 million euros in nine months

Bigbank’s loan portfolio grew by 15.1% or 54.9 million euros in the first three quarters of 2017, of which 16.1 million euros represents growth in Q3.

The loan portfolio grew by 4% during Q3, with the biggest growth posted by the bank’s Latvian subsidiary. Bigbank’s profit in Q3 was 4.5 million euros, with a balance sheet total of 440 million euros, an increase of 19.7 million euros on the previous quarter.

“Our profits have been influenced by both the growth in the loan portfolio and its quality, which has improved markedly,” said Chairman of the Management Board of Bigbank AS Sven Raba.

Raba added that the bank’s long-term focus is on the development of its new information system, Nest, which will pave the way for Bigbank’s future development and growth. “Nest will also mean our solutions are in line with all of the new regulatory and reporting requirements,” he explained. “The first thing we set up in full was a new core system in our Finnish subsidiary back in June. Nest was named one of the 10 best solutions in the Best Tech Overhaul Project category of this year’s international Banking Technology Awards.”

Bigbank took up membership of the Estonian Banking Association during Q3 in order to support and make its own contribution to the fulfilment of strategic objectives in the sector. “It’s important to the association that the Estonian banking sector is reliable and transparent in the eyes of its partners both here in the country and abroad,” Raba explained. “We feel the same way, and Bigbank shares the association’s other values and principles, too.”

Bigbank AS (www.bigbank.ee) is an Estonian-owned credit institution that specialises in consumer loans and term deposits. In addition to its operations in Estonia, it has subsidiaries in Finland, Sweden, Latvia, Lithuania and Spain. The bank also offers its products as cross-border services in Austria, Germany and the Netherlands.

Additional information:

Sven Raba, Chairman of the Management Board of Bigbank AS

E-mail: [email protected]

Phone: +372 6 681 333