Market announcement
Bigbank AS
Category
Management interim statement or quarterly financial report
Attachments
Date
25.10.2024 08:00:33
Title
Bigbanki 2024. aasta III kvartali auditeerimata majandustulemused
Message
Bigbanki brutolaenuportfell kasvas kvartali lõpuks rekordilise 2,1 miljardi euroni, suurenedes kvartaliga 158 miljoni euro võrra (+8%) ja aastaga 451 miljoni euro võrra (+28%). Kõik kolm peamist tooteliini näitasid soliidset kvartalikasvu. Ärilaenuportfell kasvas 46 miljoni euro võrra (+7%) 703 miljoni euroni, eluasemelaenuportfell 78 miljoni euro võrra (+17%) 534 miljoni euroni ja tarbimislaenuportfell 36 miljoni euro võrra (+4%) 837 miljoni euroni.
Hoiuste poolel näitas kolmandas kvartalis korralikku kasvu tähtajaliste hoiuste portfell. Kvartaliga kasvas see 86 miljoni euro võrra, jõudes 1,25 miljardi euroni (+7%). Säästuhoiuseportfell kahanes kvartaliga 82 miljoni euro võrra 1,01 miljardi euroni. Seda põhjustas eelkõige jätkuv trend, mille kohaselt lühiajalisi säästutooteid kasutavad hoiusekliendid asendasid Bigbanki säästuhoiuse peamiselt 3–9 kuu pikkuse tähtajalise hoiusega, et kindlustada vastavaks perioodiks soovitud intressimäär. Kontserni hoiuseportfell kokku kasvas kvartaliga 11 miljoni euro võrra (+0,5%) ja aastaga 484 miljoni euro võrra (+27%) 2,27 miljardi euroni.
Bigbanki 2024. aasta esimese üheksa kuu puhaskasum oli 27,6 miljonit eurot. 2023. aasta samal perioodil oli see 29,4 miljonit eurot. Kolmandas kvartalis teenis Bigbank puhaskasumit 11,8 miljonit eurot ehk võrreldes 2023. aasta kolmanda kvartaliga 0,6 miljoni euro võrra vähem (-5%).
Kontserni netointressitulu võrreldes 2023. aasta kolmanda kvartaliga kasvas: 2024. aasta kolmanda kvartali netointressitulu oli 27,7 miljonit eurot (III kvartal 2023: 26,1 miljonit eurot), mis teeb kasvuks 1,6 miljonit eurot ehk 6%. Esimese üheksa kuu netointressitulu oli 79,1 miljonit eurot, kasv võrreldes eelmise aasta sama perioodiga oli 6,3 miljonit eurot (+9%).
Kolmandas kvartalis püsis laenuportfelli krediidikvaliteet võrreldes eelmise kvartaliga stabiilsena. Võrdluses 2023. aasta näitajatega on siiski märgatav teatav halvenemine tarbimis- ja ärilaenude portfellis, ent see on tingitud kvaliteedi langusest 2024. aasta esimeses kvartalis. Kodulaenude portfell on jätkuvalt väga hea kvaliteediga.
Neto laenunõuete allahindluse ja eraldiste kulu kokku oli 4,2 miljonit eurot. Võrreldes teise kvartaliga (6,3 miljonit eurot) on see märgatav langus (-2,1 miljonit eurot). Võrreldes 2023. aasta kolmanda kvartaliga, mil vastav näitaja oli 5,0 miljonit eurot, on langus 0,8 miljonit eurot.
Eelmise aasta kolmanda kvartaliga võrreldes suurenes Kontserni tulumaksukulu 0,6 miljoni euro võrra 2,4 miljoni euroni. Peamiseks põhjuseks oli 2023. aasta lõpus Lätis kehtestatud avansiline tulumaks, mis eelmisel aastal jõudis finantsnumbritesse alles neljandas kvartalis, aga 2024. aastal mõjutab kõiki kvartaleid.
Kontserni kinnisvarainvesteeringute portfell, mis sisaldab nii põllumaid kui ka äripindu, ulatus kolmanda kvartali lõpus 48,7 miljoni euroni. Kvartali jooksul müüs Kontsern põllumaid 0,3 miljoni euro väärtuses.
Kasumiaruanne, tuhandetes eurodes |III kvartal 2024|III kvartal 2023|9 kuud 2024|9 kuud 2023
---------------------------------- | -------------- | -------------- | --------- | ----------
Neto intressitulu | 27 717 | 26 090 | 79 090 | 72 790
Neto teenustasud | 2 316 | 2 097 | 6 725 | 6 116
Netokasum finantsvaradelt | 1 023 | 3 965 | 4 101 | 4 976
Neto tegevustulud | -974 | -1 033 | -2 800 | -1 686
Neto tegevustulud kokku | 30 082 | 31 119 | 87 116 | 82 196
Palgakulud | -6 813 | -6 072 | -19 576 | -17 687
Halduskulud | -2 827 | -3 845 | -8 781 | -11 158
Põhivara kulum ja väärtuse langus | -2 145 | -2 001 | -6 297 | -4 361
Tegevuskulud kokku | -11 785 | -11 918 | -34 654 | -33 206
Eraldiste tulu (kulu) | 1 223 | 79 | -106 | -882
Kasum enne allahindluste kulu | 19 520 | 19 280 | 52 356 | 48 108
Neto laenunõuete ja
finantsinvesteeringute
allahindlused | -5 410 | -5 023 | -19 293 | -13 985
Kasum enne maksustamist | 14 110 | 14 257 | 33 063 | 34 123
Tulumaks | -2 371 | -1 887 | -5 503 | -4 169
Aruandeperioodi jätkuvate
tegevuste kasum | 11 739 | 12 370 | 27 560 | 29 954
Kasum (kahjum) lõppenud
tegevustest | 0 | 61 | 29 | \-557
Aruandeperioodi kasum | 11 739 | 12 431 | 27 589 | 29 397
Finantsseisundi aruanne,
tuhandetes eurodes | 30.09.2024 | 30.06.2024 | 31.12.2023 | 30.09.2023
korrigeeritud*
-------------------------------- | ------------- | ------------- | ------------ | ----------
Raha ja raha ekvivalendid | 475 284 | 626 081 | 518 672 | 406 837
Võlaväärtpaberid | 14 992 | 9 907 | 15 400 | 14 942
Nõuded klientidele | 2 059 625 | 1 902 001 | 1 662 002 | 1 608 720
Muud varad | 87 126 | 89 255 | 91 324 | 88 709
Varad kokku | 2 637 027 | 2 627 244 | 2 287 398 | 2 119 208
Klientide hoiused ja saadud
laenud | 2 274 269 | 2 264 137 | 1 946 314 | 1 791 581
Allutatud võlakirjad | 83 437 | 88 148 | 76 109 | 71 490
Muud kohustised | 14 585 | 22 113 | 20 182 | 18 909
Kohustised kokku | 2 372 291 | 2 374 398 | 2 042 605 | 1 881 980
Omakapital | 264 736 | 252 846 | 244 793 | 237 228
Kohustised ja omakapital kokku | 2 637 027 | 2 627 244 | 2 287 398 | 2 119 208
Bigbank AS juhatuse esimehe Martin Läntsi kommentaar: „2024. aasta kolmas kvartal tähistas Bigbanki jaoks stabiilse ja strateegilise kasvu jätku, kusjuures olulise teetähisena ületas meie brutolaenuportfell esmakordselt 2 miljardi euro piiri, jõudes 2,1 miljardini. Meie panga strateegia keskendub stabiilsele kasvule kodulaenude ja ärilaenude tooteliinides, mis kajastub ka tulemustes. Kolmandas kvartalis kasvas meie brutoportfell 158 miljoni euro võrra (+8%), mis on suurim kvartaalne kasv Bigbanki ajaloos. Eraldi tõstaksin seejuures esile kodulaenude portfelli kvartalikasvu 78 miljoni euro võrra (+17%) kogusummas 534 miljoni euroni. Langevate intresside keskkonnas saame rahul olla ka netointressitulu korraliku kasvuga nii eelmise aasta kolmanda kvartaliga võrreldes (+6%) kui ka 9 kuu lõikes võrreldes eelmise aasta sama perioodi näitajaga (+9%).“
Rohkem kui 30-aastase tegevusajalooga Bigbank AS (www.bigbank.ee) on Eesti kapitalile kuuluv kommertspank. 30. septembri 2024 seisuga oli panga bilansimaht kokku 2,6 miljardit eurot ning omakapital 264,7 miljonit eurot. Üheksas riigis tegutseval pangal on kokku üle 150 000 aktiivse kliendi ning üle 500 töötaja. Reitinguagentuur Moody’s on väljastanud Bigbankile pikaajalise pangahoiuste reitingu tasemel Ba1 ning baaskrediidireitingu (BCA) ja kohandatud BCA tasemel Ba2.
Argo Kiltsmann
Juhatuse liige
Telefon: +372 5393 0833
E-mail: [email protected]
www.bigbank.ee
Manus
Bigbank_vahearuanne_kv3_2024
Title
Bigbank's Unaudited Financial Results for Q3 2024
Message
Bigbank’s total gross loan portfolio grew to a record 2.1 billion euros by the end of the quarter, increasing by 158 million euros (+8%) quarter on quarter and by 451 million euros (+28%) year on year. All three main product lines posted solid quarter-on-quarter growth. The corporate loan portfolio grew by 46 million euros (+7%) to 703 million euros, the housing loan portfolio by 78 million euros (+17%) to 534 million euros and the consumer loan portfolio by 36 million euros (+4%) to 837 million euros.
On the deposit side, the term deposit portfolio showed solid growth, increasing by 86 million euros to 1.25 billion euros (+7%) in the third quarter. The savings deposit portfolio decreased by 82 million euros to 1.01 billion euros during the quarter. This was mainly because our deposit customers continued to switch their short-term savings products to 3- to 9-month term deposits to lock in an attractive interest rate for the chosen period. The Group’s total deposit portfolio grew by 11 million euros (+0.5%) over the quarter and by 484 million euros (+27%) over the year to 2.27 billion euros.
Bigbank ended the first nine months of 2024 with a net profit of 27.6 million euros, compared with 29.4 million euros for the same period in 2023. In the third quarter, Bigbank earned a net profit of 11.8 million euros. Compared to the third quarter of 2023, net profit decreased by 0.6 million euros (-5%).
Group’s net interest income increased compared to the third quarter of 2023: net interest income for the third quarter of 2024 was 27.7 million euros (Q3 2023: 26.1 million euros), 1.6 million euros (+6%) higher than a year earlier. Net interest income for the first nine months of 2024 was 79.1 million euros, up 6.3 million euros (+9%) year on year.
In the third quarter, the credit quality of the loan portfolio remained stable compared to the previous quarter. However, compared with the 2023 figures, there was some deterioration in the consumer and corporate loan portfolios, but this is due to a decline in quality in the first quarter of 2024. The quality of the housing loan portfolio remains excellent.
Net loss allowances for loans and provision expenses totalled 4.2 million euros. This represents a significant decrease of 2.1 million euros compared to the previous quarter (6.3 million euros) and a decrease of 0.8 million euros compared to the third quarter of 2023 (5.0 million euros).
The Group’s income tax expense increased by 0.6 million euros to 2.4 million euros compared to the third quarter of 2023. The increase was driven by the introduction of advance income tax in Latvia at the end of 2023, which was only reflected in the figures for the fourth quarter of 2023 but will affect all quarters in 2024.
The Group’s investment property portfolio, which includes both agricultural land and commercial real estate, stood at 48.7 million euros at the end of the third quarter. During the quarter, the Group sold agricultural land of 0.3 million euros.
Income statement, in thousands of euros | Q3 2024 | Q3 2023 | 9M 2024 | 9M 2023
-------------------------------------------|---------|---------|---------|--------
Net interest income |27,717 |26,090 |79,090 |72,790
Net fee and commission income |2,316 |2,097 |6,725 |6,116
Net income (loss) on financial assets |1,023 |3,965 |4,101 |4,976
Net other operating income |-974 |-1,033 |-2,800 |-1,686
Total net operating income |30,082 |31,119 |87,116 |82,196
Salaries and associated charges |-6,813 |-6,072 |-19,576 |-17,687
Administrative expenses |-2,827 |-3,845 |-8,781 |-11,158
Depreciation, amortisation and impairment |-2,145 |-2,001 |-6,297 |-4,361
Total expenses |-11,785 |-11,918 |-34,654 |-33,206
Provision income (expense) |1,223 |79 |-106 |-882
Profit before loss allowances |19,520 |19,280 |52,356 |48,108
Net loss allowances on loans and
financial investments |-5,410 |-5,023 |-19,293 |-13,985
Profit before income tax |14,110 |14,257 |33,063 |34,123
Income tax expense |-2,371 |-1,887 |-5,503 |-4,169
Profit for the period from continuing
operations |11,739 |12,370 |27,560 |29,954
Income (loss) from discontinued operations |0 |61 |29 |-557
Profit for the period |11,739 |12,431 |27,589 |29,397
Statement of financial position,
in thousands of euros | 30 Sept 2024 | 30 June 2024 | 31 Dec 2023 | 30 Sept 2023
restated*
----------------------------------|--------------|--------------|-------------|-------------
Cash and cash equivalents |475,284 |626,081 |518,672 |406,837
Debt securities at FVOCI |14,992 |9,907 |15,400 |14,942
Loans to customers |2,059,625 |1,902,001 |1,662,002 |1,608,720
Other assets |87,126 |89,255 |91,324 |88,709
Total assets |2,637,027 |2,627,244 |2,287,398 |2,119,208
Customer deposits and loans
received |2,274,269 |2,264,137 |1,946,314 |1,791,581
Subordinated notes |83,437 |88,148 |76,109 |71,490
Other liabilities |14,585 |22,113 |20,182 |18,909
Total liabilities |2,372,291 |2,374,398 |2,042,605 |1,881,980
Equity |264,736 |252,846 |244,793 |237,228
Total liabilities and equity |2,637,027 |2,627,244 |2,287,398 |2,119,208
Commentary by Martin Länts, chairman of the management board of Bigbank AS: "The third quarter of 2024 marked the continuation of stable and strategic growth for Bigbank, highlighted by a significant milestone as our gross loan portfolio surpassed 2 billion euros for the first time, reaching 2.1 billion euros. Our bank’s strategy focuses on stable growth in the home loan and business loan product lines, and this is reflected in the results. In the third quarter, our gross portfolio grew by 158 million euros (+8%), marking the largest quarterly growth in Bigbank’s history. I would particularly highlight the home loan portfolio's quarterly growth of 78 million euros (+17%), bringing it to a total of 534 million. In a declining interest rate environment, we are also pleased with the 6% growth in net interest income compared to Q3 2023 and the 9% year-on-year increase for the first nine months."
Bigbank AS (www.bigbank.eu), with over 30 years of operating history, is a commercial bank owned by Estonian capital. As of 30 September 2024, the bank's total assets amounted to 2.6 billion euros, with equity of 264,7 million euros. Operating in nine countries, the bank serves more than 150,000 active customers and employs over 500 people. The credit rating agency Moody's has assigned Bigbank a long-term deposit rating of Ba1, as well as a baseline credit assessment (BCA) and adjusted BCA of Ba2.
Argo Kiltsmann
Member of the Management Board
Tel: +372 53 930 833
Email: [email protected]
www.bigbank.ee
Attachment
Bigbank_interimreport_Q3_2024