Inbank Unaudited Financial Results For Q3 And 9 Months Of 2026

(MENAFN- GlobeNewsWire - Nasdaq) In Q3 2026, Inbank reached a record originated volume of €227 million, representing an 11% year-on-year increase. Consolidated net profit for the quarter grew by 26% year-on-year to €6.3 million. Net profit for the first nine months of 2026 reached €14.6 million, up 11% year-on-year. The return on equity was 14% in Q3, and 11.1% for the first 9 months of the year.

• Inbank's total net income increased by 14% year-on-year to €25 million in the third quarter and by 9% to €68.8 million in the first nine months of 2026. The quarterly result includes a positive one-off adjustment to interest income resulting from a change in the interest income recognition methodology following the migration of the Lithuanian loan portfolio to Inbank's unified platform. Operating expenses increased by 14% year-on-year to €13 million, mainly due to higher personnel and administrative expenses, with the latter including a provision for the fine imposed by the Polish consumer protection authority UOKiK. Inbank's cost-income ratio improved to 52% for the quarter.
• Originated volume reached a record €227 million in Q3 2026, up 11% year-on-year, bringing the total for the first 9 months of the year to €655 million, an increase of 16% year-on-year.
• Across product segments, personal loan volumes increased by 35% year-on-year to €56 million, accounting now for a quarter of Inbank's total originated volume. Car financing volumes grew for the third consecutive quarter, reaching €57 million, up 16% year-on-year. Growth was supported by Inbank's partnership with Otomoto in Poland and the continued recovery of the Estonian car market. Rental services volumes increased by 54% to €19 million, supported by both full-service vehicle rental and consumer electronics renta. During the quarter, Mobire also introduced an operating lease offering. Pay later products, Inbank's largest product segment, recorded an 8% year-on-year increase in originated volume to €67 million. Green financing volumes declined by 28% year-on-year to €28 million, reflecting an exceptionally strong comparison period in Poland last year, when sales were boosted by government subsidies. However, volumes have remained stable over the past two quarters.
• The loan and rental portfolio grew 9% year-on-year to €1.36 billion, while customer deposits increased by 4% year-on-year to €1.37 billion. At the end of the third quarter, Inbank's total assets stood at €1.67 billion.
• Impairments on loans and receivables accounted for 1.38% of the average loan and rental portfolio, down from 1.52% a year ago, reflecting improving credit quality in the Baltics and Poland.
• The total capital ratio stood at 18.74% at quarter end. At the end of September, Inbank announced the early redemption of its Additional Tier 1 (AT1) bonds issued in November 2021, with a total nominal value of €4.5 million, having received prior consent from the Estonian Financial Supervision and Resolution Authority.
• On 15 September, Inbank and Eurobank established INE Embedded Finance Credit Company S.A., a 50/50 joint venture to offer embedded finance solutions in Greece. The company has submitted an operating licence application to the Bank of Greece, with operations expected to begin by the end of Q1 2027, subject to regulatory approval.
• Following the end of the quarter, on 22 October 2026, Inbank established a Growth Committee, chaired by Jan Andresoo, and comprising Erkki Raasuke and Sergei Anikin as members. On 23 October 2026, Jan Andresoo was also appointed Vice-Chairman of Inbank's Supervisory Board.
• At the end of Q3 2026, Inbank had more than 787,000 active customer contracts and over 6,000 active partners.

Priit Põldoja, CEO of Inbank, comments on the results:

“Since the beginning of the year, we have achieved record sales volumes every quarter, and in Q3 this momentum was accompanied by improved profitability. Despite several one-off effects on income and expenses, our underlying margins, cost of risk and profitability improved significantly during the quarter, with net profit increasing by 26% year-on-year.

Looking ahead, we remain focused on improving margins and allocating capital to higher-return areas. With our joint venture with Eurobank now established and the licensing process underway, we are preparing to bring Inbank's technology platform and products to the Greek market.”

Key financial indicators as of 30 September 2026

Total assets €1.67 billion
Loan and rental portfolio €1.36 billion
Customer deposits €1.37 billion
Total equity €182 million
Net profit €6.3 million
Return on equity 14%

Consolidated income statement (in thousands of euros)

	Q3 2026	Q3 2025	9 months 2026	9 months 2025
Interest income calculated using effective interest method	33,792	32,003	97,263	95,042
Interest expense	-13,003	-13,178	-38,957	-39,786
Net interest income	20,789	18,825	58,306	55,256
Fee and commission income	153	33	362	55
Fee and commission expenses	-1,347	-1,295	-3,877	-3,408
Net fee and commission income/expenses	-1,194	-1,262	-3,515	-3,353
Rental income	11,974	9,965	34,682	28,439
Sale of assets previously rented to customers	5,417	4,279	15,909	12,746
Depreciation of rental assets	-5,935	-4,690	-16,816	-13,511
Other operating expenses	-2,069	-1,731	-6,247	-5,083
Cost of assets sold previously rented to customers	-4,857	-3,997	-14,794	-11,693
Net rental income/expenses	4,530	3,826	12,734	10,898
Other operating income	257	58	315	77
Net gains/losses from financial assets measured at fair value	498	325	952	306
Foreign exchange rate gain/losses	86	81	37	139
Net gain/losses from financial items	841	464	1,304	522
Total net income	24,966	21,853	68,829	63,323
Personnel expenses	-6,451	-5,494	-18,910	-16,863
Marketing expenses	-992	-1,055	-3,361	-2,942
Administrative expenses	-3,593	-3,040	-9,323	-9,068
Depreciation, amortization	-1,955	-1,834	-5,443	-5,236
Total operating expenses	-12,991	-11,423	-37,037	-34,109
Impairment losses on loans and receivables	-4,713	-4,740	-14,940	-14,085
Profit before income tax	7,262	5,690	16,852	15,129
Income tax expense	-959	-682	-2,269	-2,026
Profit for the period	6,303	5,008	14,583	13,103
Other comprehensive income that may be reclassified subsequently to profit or loss
Currency translation differences	-290	-96	-363	-235
Total comprehensive income for the period	6,013	4,912	14,220	12,868

Consolidated statement of financial position (in thousands of euros)

	30/09/2026	31/12/2025	30/09/2025
Assets
Cash and cash equivalents	168,410	173,400	238,906
Due from other banks	9,998	10,004	0
Investments in debt securities	72,940	59,393	52,041
Financial assets measured at fair value through profit or loss	16	94	57
Loans and andvances	1,208,627	1,152,136	1,119,715
Investments in joint ventures	4,799	0	0
Other financial assets	6,596	3,610	8,176
Tangible fixed assets	136,760	113,835	103,279
Right of use assets	16,648	20,469	20,680
Intangible assets	34,979	33,492	33,061
Other assets	5,434	6,300	5,515
Deferred tax assets	6,321	7,299	5,496
Total assets	1,671,528	1,580,032	1,586,926
Liabilities
Customer deposits	1,373,669	1,301,052	1,318,930
Financial liabilities measured at fair value through profit or loss	0	265	417
Other financial liabilities	43,997	46,204	53,936
Current tax liability	482	193	569
Deferred tax liability	1,546	1,350	1,072
Other liabilities	12,203	11,132	10,365
Subordinated debt securities	57,253	48,866	40,927
Total liabilities	1,489,150	1,409,062	1,426,216
Equity
Share capital	1,190	1,178	1,152
Share premium	61,923	60,166	54,892
Statutory reserve	119	115	115
Other reserves	368	1,153	1,337
Retained earnings	118,778	108,358	103,214
Total equity	182,378	170,970	160,710
Total liabilities and equity	1,671,528	1,580,032	1,586,926

Inbank is a financial technology company with an EU banking license that connects merchants, consumers and financial institutions on its next generation embedded finance platform. Partnering with more than 6,000 merchants, Inbank has 787,000+ active contracts and collects deposits across seven markets in Europe. Inbank bonds are listed on the Nasdaq Tallinn Stock Exchange.

Additional information:
Styv Solovjov
AS Inbank
Head of Investor Relations
+372 5645 9738
...

Attachments

• Inbank Interim Report 2026 Q3
• Investor Presentation Q3 2026

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