Bigbank’s net profit in Q2 amounted to record 6.1 million euros and increased 19% year-over-year. The bank’s loan portfolio increased by 4.6 million euros in Q2 and amounted to 439 million. The large growth was achieved due to the decrease in the level of the group’s loan losses.
The balance sheet total of the group increased 4% in
comparison with the end of 2018 and amounted to 547.2 million euros, and equity
grew 6% and amounted to 128.6 million euros, which means that the
capitalisation of Bigbank is high.
“In the second quarter, we started focusing more on the development of products and services for corporates, and established an entirely new area for this at the bank – Ingo Põder, who has worked in banking for a long time, became the head of corporate banking,” said CEO of Bigbank Martin Länts. “We also launched a small loan for corporates in Estonia and the Nest banking information system in Latvia, which allows us to improve the customer experience in even more countries where Bigbank operates. The new system has now been fully launched in all of the bank’s operating countries except Estonia, where the new system will soon be implemented as well.”
At the end of Q2 Bigbank AS had 117,000 loan agreements in total, including 37,000 in Latvia, 30,000 in Estonia, 29,000 in Lithuania, 10,000 in Finland, 9,000 in Sweden and 2,000 in Spain.
The supervisory board of
Bigbank AS consists of five members, who are chairman Parvel Pruunsild and
members Vahur Voll, Juhani Jaeger, Raul Eamets and Andres Koern. The management
board of the bank has four members, who are CEO Martin Länts and members Sven
Raba, Mart Veskimägi and Argo Kiltsmann.
Bigbank AS (www.bigbank.ee) is an Estonian-owned credit institution which specialises in consumer loans and term deposits, which in addition to its operations in Estonia has subsidiaries in Finland, Sweden, Latvia, Lithuania and Spain and which also offers its products as cross-border services in Austria, Germany and the Netherlands.
For further information, please contact:
Martin Länts, CEO of Bigbank AS