Market announcement

Title

Bigbank's Financial Results for July 2023

Message

July 2023 was characterized by continued strong growth and solid profit numbers
for Bigbank.

In terms of loans, the portfolios of business loans, home loans and consumer
loans grew in equal volumes. On the side of deposits, the growth was higher in
the savings deposit, where the volume of deposits grew the most among Dutch
customers, but the savings deposit in Finland, which entered the market at the
end of May, has also picked up nicely.

While the Euribor level remained stable in July, the increase in interest rates
on deposits continued in the markets of Bigbank's operations. As Bigbank
continues to keep its deposit rates at the top of the market, it allows
Bigbank's deposit customers to increasingly benefit from the rising interest
rate environment.
The fact that the credit quality of Bigbank's loan portfolio remains at a strong
level and the loan customers have not encountered significant difficulties in
servicing their obligations is also pleasing.

July's net interest income of 8.7 million as well as net profit of 3.7 million
were record figures for Bigbank in 2023 by month.

Bigbank's financial results for July 2023:

  * Deposits from customers and loans raised grew by 423 million euros on year,
    rising to 1.66 billion euros (+35%) in the year.
  * Receivables from customers increased by 339 million euros to 1.49 billion
    euros (+29%).
  * Net interest income was 8.7 million euros in July, a total of 55.4 million
    euros in the first seven months of the year. In the comparison of the first
    seven months with the same period last year, the increase was 8.4 million
    euros (+18%).
  * In the first seven months of the year, the volume of net loan claims and
    discounts on financial investments was 10.3 million euros, compared to a
    year ago, the increase was 2.5 million euros or 33%.
  * July's net profit was 3.7 million euros. The total profit of the first seven
    months was 20.7 million euros, an increase of 3.9 million euros or 23%
    compared to 2022.
  * Return on equity was 16.1% in the consolidated view of the first seven
    months.

 Income statement, in thousands of                                  Difference
 euros                               July 2023  YTD 2023  YTD 2022     YoY
-------------------------------------------------------------------------------
 Total net operating income, incl.       9,490    60,568    50,885   9,683 +19%

 Net interest income                     8,662    55,362    46,915   8,446 +18%

 Net fee and commission income             455     4,709     4,239     470 +11%

 Total expenses, incl.                  -3,803   -26,052   -24,207  -1,845  +8%

 Salaries and associated charges        -2,037   -13,652   -12,307  -1,345 +11%

 Administrative expenses                -1,118    -8,431    -9,466   1,035 -11%

 Profit before loss allowances           5,688    34,516    26,678   7,838 +29%

 Net loss allowances on loans and
 financial investments                  -1,380   -10,342    -7,794  -2,548 +33%

 Income tax expense                       -564    -2,846    -2,103    -744 +35%

 Profit for the period from
 continuing operations                   3,744    21,328    16,782   4,546 +27%

 Loss before tax from discounted
 operations                                  0      -617         0    -617
-------------------------------------------------------------------------------
 Profit for the period                   3,744    20,710    16,782   3,929 +23%
-------------------------------------------------------------------------------




 Business volumes, in thousands of                                  Difference
 euros                               July 2023  YTD 2023  YTD 2022     YoY
-------------------------------------------------------------------------------
 Customer deposits and loans
 received                            1,660,907 1,660,907 1,238,087 422,819 +34%

 Loans to customers                  1,492,858 1,492,858 1,153,724 339,134 +29%



 Key figures                                                        Difference
                                     July 2023  YTD 2023  YTD 2022     YoY
-------------------------------------------------------------------------------
 ROE                                     19.8%     16.1%     15.2%  +0.9pp

 Cost / income ratio (C/I)               40.1%     43.0%     47.6%  -4.6pp

 Net promoter score (NPS)                   56        57        50      +7


Bigbank AS (www.bigbank.eu) is an Estonian capital-based bank specialising in
loans and deposits for private and business customers. In addition to operations
in Estonia, the bank has branches in Finland, Sweden, Latvia, Lithuania, and
Bulgaria and offers its products on a cross-border basis in Austria, Germany,
and the Netherlands. Bigbank's total assets exceed 1.9 billion euros.

Argo Kiltsmann
Member of the Management Board
Telephone: +372 5393 0833
Email: [email protected]
www.bigbank.ee