Market announcement
Bigbank AS
Category
Management interim statement or quarterly financial report
Attachments
Date
27.10.2023 16:30:00
Title
Bigbanki 2023. aasta III kvartali ja 9 kuu auditeerimata majandustulemused
Message
Bigbanki laenuportfell kasvas rekordilise 1,6 miljardi euroni, suurenedes kvartaliga 97 miljoni euro võrra (+6%) ja esimese üheksa kuuga 259 miljoni euro võrra (+19%). Eluasemelaenude portfell kasvas kvartaliga 38 miljoni euro võrra (+14%) 307 miljoni euroni, ärilaenude portfell 29 miljoni euro võrra (+5%) 579 miljoni euroni ning tarbimislaenude portfell 27 miljoni euro võrra (+4%) 720 miljoni euroni. 2022. aasta kolmanda kvartali lõpuga võrreldes kasvas kogu laenuportfell 360 miljoni euro võrra (+29%). Kolmandas kvartalis püsis laenuportfelli kvaliteet jätkuvalt heal tasemel. Kvartali lõpus oli vaid 1,6% laenunõuetest üle 90 päeva viivituses. Kontserni hoiuseportfell kasvas kvartaliga 184 miljoni euro võrra (+12%) ja esimese üheksa kuuga 415 miljoni euro võrra (+30%) 1,8 miljardi euroni. Tähtajaliste hoiuste portfell suurenes kvartaliga 42 miljonit eurot (+5%) 919 miljoni euroni. Säästuhoiuseportfell kasvas kvartaliga 142 miljonit eurot (+20%) 863 miljoni euroni. 2022. aasta kolmanda kvartali lõpuga võrreldes ehk 12 kuuga kasvas Kontserni hoiuseportfell kokku 538 miljoni euro võrra (+43%). Bigbanki 2023. aasta esimese üheksa kuu puhaskasum oli 29,4 miljonit eurot, 2022. aasta samal perioodil oli see 21,3 miljonit eurot. Kasv ulatus 8,1 miljoni euroni (+38%). 2023. aasta kolmanda kvartali kasum 12,4 miljonit eurot ületas 73% eelmise aasta sama perioodi kasumit, mis oli 7,2 miljonit eurot. 2023. aasta üheksa kuu kasum enne allahindlusi ja tulumaksu ulatus 48,1 miljoni euroni, kasvades võrreldes eelmise aasta sama perioodiga 12,2 miljoni euro võrra. Laenude allahindluse kulu oli samal perioodil 14,0 miljonit eurot. Laenude allahindluse kulu kasvas oluliselt suurenenud portfelli juures võrreldes 2022. aasta esimese üheksa kuuga 3,3 miljoni euro võrra (+30%). Kontserni 2023. aasta esimese üheksa kuu netointressitulud ulatusid 72,8 miljoni euroni, ületades 2022. aasta sama perioodi taset (61,1 miljonit eurot) 11,7 miljoni euro võrra (+19%). Kolmanda kvartali netointressitulud olid 26,1 miljonit eurot, mis on 4,8 miljonit eurot enam kui 2022. aasta kolmandas kvartalis. Kontserni kinnisvarainvesteeringute portfell, mis sisaldab nii põllumaid kui ka äripindu, ulatus kvartali lõpus 45,5 miljoni euroni. Kvartali jooksul kinnisvaraobjektidega tehinguid ei tehtud. Kasumiaruanne, tuhandetes III kvartal III kvartal eurodes 2023 2022 9 kuud 2023 9 kuud 2022 ------------------------------------------------------------------------------- Neto intressitulu 26 090 21 310 72 790 61 052 Neto teenustasud 2 097 1 891 6 116 5 511 Netokasum finantsvaradelt 3 965 135 4 976 -185 Neto tegevustulud -1 033 -344 -1 686 -523 ------------------------------------------------------------------------------- Neto tegevustulud kokku 31 119 22 992 82 196 65 855 ------------------------------------------------------------------------------- Palgakulud -6 072 -5 103 -17 687 -15 281 Halduskulud -3 845 -4 564 -11 158 -12 624 Põhivara kulum ja väärtuse langus -2 001 -944 -4 361 -2 740 Muu kasum (kahjum) 79 804 -882 673 ------------------------------------------------------------------------------- Tegevuskulud kokku -11 839 -9 807 -34 088 -29 972 ------------------------------------------------------------------------------- Kasum enne allahindluste kulu 19 280 13 185 48 108 35 883 ------------------------------------------------------------------------------- Neto laenunõuete ja finantsinvesteeringute allahindlused -5 023 -4 186 -13 985 -10 744 Kasum enne maksustamist 14 257 8 999 34 123 25 139 Tulumaks -1 887 -1 946 -4 169 -3 708 ------------------------------------------------------------------------------- Aruandeperioodi jätkuvate tegevuste kasum 12 370 7 053 29 954 21 431 ------------------------------------------------------------------------------- Kahjum lõppenud tegevustest 61 141 -557 -175 ------------------------------------------------------------------------------- Aruandeperioodi kasum 12 431 7 194 29 397 21 256 ------------------------------------------------------------------------------- Finantsseisundi aruanne, tuhandetes eurodes 30.09.2023 30.06.2023 31.12.2022 30.09.2022 ------------------------------------------------------------------------------- Raha ja raha ekvivalendid 406 837 297 194 173 447 141 163 Võlaväärtpaberid 14 942 14 877 19 213 45 171 Nõuded klientidele 1 608 720 1 512 110 1 349 811 1 248 194 Muud varad 88 709 91 116 103 918 103 357 ------------------------------------------------------------------------------- Varad kokku 2 119 208 1 915 297 1 646 389 1 537 885 ------------------------------------------------------------------------------- Klientide hoiused ja saadud laenud 1 791 581 1 607 328 1 376 934 1 281 161 Allutatud võlakirjad 71 490 66 014 40 113 40 049 Muud kohustised 18 909 17 066 15 912 17 521 ------------------------------------------------------------------------------- Kohustised kokku 1 881 980 1 690 408 1 432 959 1 338 731 ------------------------------------------------------------------------------- Omakapital 237 228 224 889 213 430 199 154 ------------------------------------------------------------------------------- Kohustised ja omakapital kokku 2 119 208 1 915 297 1 646 389 1 537 885 ------------------------------------------------------------------------------- Bigbank AS juhatuse esimehe Martin Läntsi kommentaar: ?Kolmanda kvartali ja 9 kuu tulemused tähendavad Bigbanki jaoks kasvukursi kindlat jätkumist - kontserni varade maht ületas esmakordselt 2 miljardi euro piiri. Majanduskeskkonna teguritest avaldas kolmandas kvartalis kontserni tulemustele suurimat mõju intresside suhteline stabiliseerumine kõrgel tasemel. See tähendab, et võrreldes aastataguse kolmanda kvartaliga on euriboriga seotud laenude intressitulud oluliselt kasvanud, kuid kvartaalses vaates on kasv pidurdunud. Tugeva tulemuse tegi kolmandas kvartalis ettevõtete pangandus. Sellele aitasid kaasa laenuportfelli hea kvaliteet ja kasv ning eritingimustega investeerimislaenude alusvarade väärtuste ümberhindlusest tekkinud netokasum. Segmendi kolmanda kvartali maksustamiseelne kasum ulatus 9,0 miljoni euroni ja laenuportfell kasvas kvartalis 29 miljoni euro võrra 579 miljoni euroni (+5%). Antud kvartalikasum sisaldab 3,7 miljoni euro ulatuses eritingimustega investeerimislaenude alusvarade väärtuse ümberhindlusest tekkinud netokasumit. Ümberhindluse kasum arvutatakse investeerimisriskiga laenudelt kord aastas, lähtudes klientide kinnisvarainvesteeringute turuväärtuse kasvust ja kokkulepitud kasumi jagamise määrast. Sõltuvalt kinnisvarainvesteeringute turuväärtuse muutusest võib alusvara väärtus järgnevatel perioodidel ka langeda, kuid pank ei hüvita klientidele alusvara väärtuse vähenemist suuremal määral kui eelmistel perioodidel teenitud kasumi ulatuses. Järjest tihenenud konkurents klientide hoiuste pärast ning hoiuste intressimäärade kasv jätkas kolmandas kvartalis kiiremat tõusu kui euribor. Bigbank on traditsiooniliselt olnud oma tegevusturgudel hoiustajaile parimate intresside pakkuja, mida kinnitab ka meie hoiuseportfelli 30% kasv käesoleva aasta jooksul. Eesti turul laiendasime sel sügisel tootevalikut lansseerides edukalt säästuhoiuse ning nüüd pakume nii säästuhoiust kui tähtajalisi hoiuseid nii era- kui äriklientidele. Lisaks tavapärasele äritegevusele jätkasime 2023. aasta kolmandas kvartalis kapitali kaasamist. Augustis emiteeris Bigbank taas esimese taseme omavahendite hulka kuuluvaid AT1 võlakirju kogumahus 5,1 miljonit eurot. Kaasatud omavahendid aitavad ellu viia meie kasvuplaane kodu- ja ärilaenude valdkonnas ning ühtlasi katta makromajanduslikust olukorrast tulenevaid täiendavaid kapitalinõudeid. Olen tänulik kõikidele investoritele usalduse eest. Bigbank AS (www.bigbank.ee) on Eesti kapitalil põhinev era- ja äriklientide laenudele ja hoiustele keskendunud pank, millel on lisaks tegevusele Eestis filiaalid Soomes, Rootsis, Lätis, Leedus ja Bulgaarias ning mis pakub piiriülese teenusena oma tooteid ka Austrias, Saksamaal ja Hollandis. Bigbanki bilansimaht ületab 2 miljardit eurot. Argo Kiltsmann Member of the Management Board Telephone: +372 5393 0833 Email: argo.kiltsmann@bigbank.ee www.bigbank.ee (http://www.bigbank.ee)
Title
Bigbank Unaudited Financial Results for 2023 Q3 and 9 Months
Message
Bigbank's loan portfolio grew, expanding by 97 million euros (+6%) in Q3 and by 259 million euros (+19%) during the nine months, increasing to a record 1.6 billion euros. The home loan portfolio grew by 38 million euros (+14%) to 307 million euros, the corporate loan portfolio increased by 29 million euros (+5%) to 579 million euros and the consumer loan portfolio grew by 27 million euros (+4%) to 720 million euros during the quarter. Compared to the end of Q3 2022, the gross loan portfolio increased by 360 million euros (+29%). The quality of the loan portfolio remained high in Q3 with just 1.6% of loans over 90 days past due at the reporting date. The deposit portfolio grew by 184 million euros (+12%) during the quarter and by 415 million euros (30%) during the nine months, increasing to 1.8 billion euros. The term deposit portfolio increased by 42 million euros (+5%) to 919 million euros and the savings deposit portfolio grew by 142 million euros (+20%) to 863 million euros during the nine months in 2023. Compared to the end of the third quarter of 2022, i.e., 12 months, the Group's deposit portfolio grew by a total of 538 million euros (+43%). The net profit for the nine months of 2023 was 29.4 million euros, representing a year-on-year growth of 8.1 million euros (+38%). The net profit of 12.4 million euros in the third quarter of 2023 was 73% higher than the profit of the same period last year, which was 7.2 million euros. Profit before loss allowances and income tax for the nine months of 2023 was 48.1 million euros, up by 12.2 million euros on the same period last year. Expenses on credit loss allowances in the same period were 14.0 million euros. Due to significant growth in the loan portfolio, expenses on credit loss allowances increased by 3.3 million euros (+30%) compared to the first nine months of 2022. The Group's net interest income for the first nine months of 2023 was 72.8 million euros, which is 11.7 million euros (+19%) more than a year earlier, when the figure was 61.1 million euros. Net interest income for the third quarter was 26.1 million euros, 4.7 million euros higher than in the same period in 2022. The Group's investment property portfolio, which includes both agricultural land and commercial real estate, stood at 45.5 million euros at the end of Q3. There Group did not conduct any transactions with investment properties during the quarter. Income statement, in thousands of euros Q3 2023 Q3 2022 9M 2023 9M 2022 ------------------------------------------------------------------------------- Net interest income 26,090 21,310 72,790 61,052 Net fee and commission income 2,097 1,891 6,116 5,511 Net income (loss) on financial assets 3,965 135 4,976 -185 Net other operating income -1,033 -344 -1,686 -523 ------------------------------------------------------------------------------- Total net operating income 31,119 22,992 82,196 65,855 ------------------------------------------------------------------------------- Salaries and associated charges -6,072 -5,103 -17,687 -15,281 Administrative expenses -3,845 -4,564 -11,158 -12,624 Depreciation, amortisation and impairment -2,001 -944 -4,361 -2,740 Other gains (losses) 79 804 -882 673 ------------------------------------------------------------------------------- Total expenses -11,839 -9,807 -34,088 -29,972 ------------------------------------------------------------------------------- Profit before loss allowances 19,280 13,185 48,108 35,883 ------------------------------------------------------------------------------- Net loss allowances on loans and financial investments -5,023 -4,186 -13,985 -10,744 Profit before income tax 14,257 8,999 34,123 25,139 Income tax expense -1,887 -1,946 -4,169 -3,708 ------------------------------------------------------------------------------- Profit for the period from continuing operations 12,370 7,053 29,954 21,431 ------------------------------------------------------------------------------- Loss from discontinued operations 61 141 -557 -175 ------------------------------------------------------------------------------- Profit for the period 12,431 7,194 29,397 21,256 ------------------------------------------------------------------------------- Statement of financial position, in thousands of euros 30 Sept 2023 31 June 2023 31 Dec 2022 30 Sept 2022 ------------------------------------------------------------------------------- Cash and cash equivalents 406,837 297,194 173,447 141,163 Debt securities at FVOCI 14,942 14,877 19,213 45,171 Loans to customers 1,608,720 1,512,110 1,349,811 1,248,194 Other assets 88,709 91,116 103,918 103,357 ------------------------------------------------------------------------------- Total assets 2,119,208 1,915,297 1,646,389 1,537,885 ------------------------------------------------------------------------------- Customer deposits and loans received 1,791,581 1,607,328 1,376,934 1,281,161 Subordinated notes 71,490 66,014 40,113 40,049 Other liabilities 18,909 17,066 15,912 17,521 ------------------------------------------------------------------------------- Total liabilities 1,881,980 1,690,408 1,432,959 1,338,731 ------------------------------------------------------------------------------- Equity 237,228 224,889 213,430 199,154 ------------------------------------------------------------------------------- Total liabilities and equity 2,119,208 1,915,297 1,646,389 1,537,885 ------------------------------------------------------------------------------- Comment by the Bigbank Chairman of the Management Board Martin Länts: "The results of the third quarter and 9 months mean a solid continuation of the growth rate for Bigbank - the volume of the Group's assets exceeded 2 billion euros for the first time. Among the factors of the economic environment, the relative stabilisation of interest rates at a high level had the greatest impact on the Group's results in the third quarter. This means that compared to the third quarter of a year ago, the interest income of Euribor-related loans has increased significantly, but in a quarterly perspective, the growth has slowed down. Corporate banking posted strong performance in the third quarter, supported by the high quality and growth of the loan portfolio as well as net gain on the revaluation of the underlying assets of investment loans with special features (loans with the features of a hybrid instrument). The segment's third-quarter profit before tax was 9.0 million euros and loan portfolio grew by 29 million euros (+5%) to 579 million euros during the quarter. The profit figure includes net gain on the revaluation of the underlying assets of loans with the features of a hybrid instrument, which amounted to 3.7 million euros. Net gain on the revaluation of the underlying assets of loans with the features of a hybrid instrument is calculated once a year based on growth in the market value of the customers' investment properties and the agreed profit-sharing rate. Depending on the changes in the market value of the investment properties, the value of the underlying assets may also decrease in subsequent periods, but the bank does not compensate customers for the decrease in the value of the underlying assets to an extent exceeding the gain recorded in previous periods. Competition for customer deposits intensified, and deposit interest rate growth continued to rise faster than Euribor in the third quarter. Bigbank has traditionally been the provider of the best interest rates for depositors in its operating markets, which is also confirmed by the 30% growth of our deposit portfolio during this year. We successfully expanded our product range by launching the savings deposit in the Estonian market this fall, and now we offer both savings deposits and fixed-term deposits to both private and business customers. In addition to regular business, we continued to raise capital in the third quarter of 2023. In August, Bigbank again issued bonds qualifying as additional own funds (AT1 capital) in a private placement by which we raised 5.1 million euros of additional capital. The included own funds will help implement our growth plans in home and business loans and cover additional capital requirements arising from the macroeconomic situation. I am grateful to all investors for their trust." 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 2 billion euros. Argo Kiltsmann Member of the Management Board Telephone: +372 5393 0833 Email: argo.kiltsmann@bigbank.ee www.bigbank.ee (http://www.bigbank.ee)