Market announcement
AS Inbank
LEI code
2138005M92IEIQVEL297
Size of the entity
Large group
Economic activities
Financial and Insurance Activities
Industry sector(s)
Credit institution
Country of registered office
Estonia
General information
Categories
Management interim statement or quarterly financial report
Unique data record identifier
7551
Attachments
Submission date and time
31.10.2019 07:55:00
Content of announcement in Estonian
Title
Inbanki 2019. aasta kolmanda kvartali auditeerimata majandustulemused
Message
BÖRSITEADE
31.10.2019
Inbank AS
Inbanki 2019. aasta kolmanda kvartali auditeerimata majandustulemused
Inbanki 2019. aasta kolmanda kvartali puhaskasum oli 2,22 miljonit eurot ning
esimese üheksa kuu puhaskasum 6,57 miljonit eurot. Omakapitali tootlus oli
kolmandas kvartalis 22%.
* Kolmanda kvartali puhaskasum kasvas mullusega võrreldes 44%. Eelmise aasta
kolmandas kvartalis oli puhaskasum 1,55 miljonit eurot ning üheksa kuu
arvestuses vastavalt 6,23 miljonit eurot.
* Laenuportfell kasvas eelmise aasta sama perioodiga võrreldes 56% ja ulatub
310 miljoni euroni. Hoiuseportfell samaaegselt kahekordistus 375 miljoni
euroni.
* Inbank jätkas 2019. aasta teisel poolel tugevat ja kasumlikku kasvu kõigil
neljal koduturul. Krediiditoodete müük kasvas 220 miljoni euroni, mis on
49% enam kui eelmisel aastal. Inbanki üheksa kuu krediiditoodete müügist
andis Eesti üksus 70,7 miljonit (+35%), Leedu 73,1 miljonit (+22%), Läti
38,7 miljonit (+29%) ja Poola 37,8 miljonit eurot (+562%).
* Kolmandas kvartalis jõudis Inbank poole miljoni kliendilepinguni. Kvartali
lõpuks oli Inbankil 519 000 aktiivset kliendilepingut.
* Pank jätkab kasvamist ja investeerimist nii tehnoloogiasse kui töötajatesse.
Tänavu on meeskonda lisandunud 83 uut töötajat, kolmanda kvartali lõpu
seisuga töötab Inbanki grupis 215 inimest.
Tulemusi kommenteerib Inbanki juhatuse esimees Jan Andresoo:
?Toodete vaates tõid Inbankile kõige enam kasvu väikelaenu- ja järelmaksutooted.
Üheksa kuu arvestuses on müük jätkuvalt tugev. Turgudest paistab eriti heade
tulemustega silma Poola, kus aastataguse perioodiga võrreldes on kasv pea
seitsmekordne ja sellega on Poola praegu Inbanki grupi kõige edukam
järelmaksuturg.
2019. aasta strateegia kohaselt keskendub Inbank peamiselt uute toodete
arendamisele ja praeguste toodete konkurentsivõime tõstmisele. Viimased kolm
kvartalit oleme investeerinud palju oma tehnoloogiameeskonda ja jätkame seda ka
tulevikus. Hetkel on liiga vara uutest toodetest ja teenustest täpsemalt
rääkida, kuid kinnitan, et juba lähitulevikus üllatame koduturgusid uute ja
innovaatiliste toodetega.
Samuti valmistume Leedu filiaali avamiseks, mille eelduseks on Leedu Keskpanga
lõplik luba. Esialgse ajakava järgi alustame Leedu turul pangana tegevust 2019.
aasta neljandas kvartalis. Kuna Inbank finantseerib ka edaspidi oma tegevust
eraisikute hoiustest, siis avab Leedu filiaal meile veel u?he hoiuste kaasamise
turu ja aitab mitmekesistada meie finantseerimiskanaleid.
Vastavalt teises kvartalis vastu võetud strateegilisele otsusele müüa kogu 7,94-
protsendiline osalus Coop Pankis müüs Inbank septembris 4% Coop Panga
aktsiatest. Tehingust vabaneva kapitali investeerib Inbank rahvusvahelisse
kasvu. Ülejäänud aktsiad on plaanis müüa Coop Panga aktsiate esmase avaliku
pakkumise ajal."
Inbanki olulisemad finantsnäitajad seisuga 30. september 2019:
· Bilansimaht 446,0 miljonit eurot
· Laenuportfell 310,3 miljonit eurot
· Hoiuste maht 375,1 miljonit eurot
· Puhaskasum 6,57 miljonit eurot
· Omakapital 43,9 miljonit eurot
· Omakapitali puhastootlikkus 22,1%
Konsolideeritud kasumiaruanne ja muu koondkasumiaruanne
EURt
III kv 2019 9 kuud 2019 III kv 2018 9 kuud 2018
-------------------------------------------------------------------------------
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Intressitulu 9 854 26 983 7 079 15 785
Intressikulu -1 685 -4 471 -1 151 -2 549
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Neto intressitulu 8 169 22 512 5 928 13 236
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Teenustasutulu 255 687 188 523
Teenustasukulu -459 -1 261 -370 -720
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Neto teenustasutulu -204 -574 -182 -197
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Netotulem õiglases väärtuses
kajastatavatelt
finantsvaradelt 273 539 0 1 204
Muud põhitegevusega seotud
tulud 25 578 277 452
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Neto intressi- ja
teenustasutulu ja muud tulud
kokku 8 263 23 055 6 023 14 695
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Personalikulud -2 001 -5 898 -1 509 -4 034
Turunduskulud -518 -1 687 -474 -945
Halduskulud -1 009 -2 739 -800 -1 832
Põhivara kulum -333 -912 -124 -284
-------------------------------------------------------------------------------
Tegevuskulud kokku -3 861 -11 236 -2 907 -7 095
-------------------------------------------------------------------------------
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Kasum enne sidusettevõtete
kasumit ja laenude
allahindluse kulu 4 402 11 819 3 116 7 600
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Kasum sidusettevõtetelt 0 0 0 1 986
Laenude allahindluse kulu -1 898 -4 845 -1 248 -3 087
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Aruandeperioodi kasum enne
tulumaksu 2 504 6 974 1 868 6 499
-------------------------------------------------------------------------------
Tulumaks -283 -408 -322 -274
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Aruandeperioodi puhaskasum 2 221 6 566 1 546 6 225
-------------------------------------------------------------------------------
Muu koondkasum/-kahjum
Kirjed, mida võib edaspidi
klassifitseerida
kasumiaruandesse
Realiseerumata kursivahed 133 82 -58 52
-------------------------------------------------------------------------------
Aruandeperioodi koondkasum 2 354 6 648 1 488 6 277
-------------------------------------------------------------------------------
Puhaskasum omistatud
Emaettevõtte aktsionäride osa
kasumist 2 221 6 566 1 541 6 214
Mittekontrolliv osalus 0 0 4 11
-------------------------------------------------------------------------------
Aruandeperioodi puhaskasum 2 221 6 566 1 545 6 225
-------------------------------------------------------------------------------
Kokku koondkasum omistatud
Emaettevõtte aktsionäride osa
kasumist 2 354 6 648 1 483 6 266
Mittekontrolliv osalus 0 0 5 11
-------------------------------------------------------------------------------
Aruandeperioodi koondkasum 2 354 6 648 1 488 6 277
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Konsolideeritud finantsseisundi aruanne
EURt
30.09.2019 31.12.2018
-------------------------------------------------------------------------------
Varad
Sularaha 4 4
Nõuded keskpankadele 89 754 64 620
Nõuded krediidiasutustele 29 411 13 700
Finantsvarad õiglases väärtuses muutustega läbi
kasumiaruande 2 390 4 600
Laenud ja nõuded 310 341 225 639
Investeeringud sidusettevõtetesse 97 97
Materiaalsed varad 725 545
Vara kasutusõigus 764 0
Immateriaalsed varad 10 365 7 697
Muud finantsvarad 83 64
Muud varad 462 514
Edasilükkunud tulumaksu vara 1 573 564
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Varad kokku 445 969 318 044
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Kohustised
Laen krediidiasutuselt 0 10 429
Klientide hoiused 375 133 240 175
Muud finantskohustised 10 801 8 776
Muud kohustised 2 526 2 654
Emiteeritud võlaväärtpaberid 4 009 10 017
Allutatud võlaväärtpaberid 9 551 9 528
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Kohustised kokku 402 020 281 579
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Omakapital
Aktsiakapital 903 874
Ülekurss 15 908 15 053
Kohustuslik reservkapital 88 79
Muud reservid 1 536 1 401
Jaotamata kasum 25 514 19 018
-------------------------------------------------------------------------------
Emaettevõtte aktsionäridele kuuluv omakapital kokku 43 949 36 425
-------------------------------------------------------------------------------
Mittekontrolliv osalus 0 40
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Omakapital kokku 43 949 36 465
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Kohustised ja omakapital kokku 445 969 318 044
-------------------------------------------------------------------------------
Inbank on tarbimisfinantseerimisele keskendunud digitaalne pank, mis tegutseb
Balti riikides ja Poolas ning kaasab hoiuseid ka Saksamaal, Austrias ja
Hollandis. Inbankil on enam kui 1700 aktiivset koostööpartnerit ning 519 000
aktiivset kliendilepingut. Inbanki võlakirjad on noteeritud Nasdaq Tallinna
börsi Balti võlakirjade nimekirjas.
Lisainfo:
Kärri Brewster-Palts
Inbank AS
Grupi turundusjuht
[email protected]
00372 5565 5500
Content of announcement in English
Title
Unaudited Financial Results of Inbank AS for Q3 2019
Message
ANNOUNCEMENT
31.10.2019
Inbank AS
Unaudited Financial Results of Inbank AS for Q3 2019
Inbank's Q3 2019 net profit was 2.22 EURm and the 9-month result was 6.57 EURm.
Return on equity in Q3 was 22%.
* Net profit grew 44% compared to Q3 2018, when Inbank's reported net profit
was 1.55 EURm and the 9-month result 6.23 EURm accordingly.
* Compared to Q3 2018, Inbank's loan portfolio increased by 56%, reaching 310
EURm. At the same time, the deposit portfolio doubled, reaching 375 EURm.
* Inbank continues to report solid and profitable growth on all four markets.
The overall sales of credit products was 220 EURm, which is 49% more
compared to the year before. The overall sales figure is split by countries
as follows: Estonia 70,7 EURm (+35%), Latvia 38,7 EURm (+29%), Lithuania
73,1 EURm (+22%), Poland 37,8 EURm (+562%).
* In Q3, the number of active contracts surpassed half a million reaching
519,000 by the end of the quarter.
* Inbank continues to grow and invest into both technology and people. This
year, Inbank has welcomed 83 new employees and by the end of Q3 Inbank Group
employs a total of 215 professionals.
Jan Andresoo, Chairman of the Management Board, comments on the results:
"From product point of view, the two main drivers of growth were the small loan
and hire purchase products. We are reporting solid sales across the past nine
months, especially in Poland, where year-on-year sales have increased seven
times making it the most successful hire-purchase market of Inbank Group.
Inbank's strategy for 2019 was to mainly focus on product development and
improve the overall competitiveness of our offering. Throughout the last three
quarters we have invested heavily into our technology team and will continue
doing so in the future. Whilst it is still too early to report the launch of new
products and services, I can confirm that in the near future we will be
surprising the markets with some new and innovative products.
We are ready to launch the Inbank branch in Lithuania and are currently waiting
for the final permission from the Bank of Lithuania. According to the initial
timeline we are planning to start our activity in the Lithuanian market as a
bank in Q4 2019. As Inbank continues to finance its operations mainly from its
retail deposits, establishing a branch in Lithuania will add a new source for
deposits and diversify our financing channels further.
In accordance with the strategic decision to sell our 7,94% shareholding in Coop
Pank, Inbank has already sold 4% of its shares in September 2019. We plan to
sell the remaining shares in the IPO process and to reinvest the capital to
support our international growth."
Key Financial Indicators 30.09.2019
* Total assets 446,0 EURm
* Loan portfolio 310,3 EURm
* Deposit portfolio 375,1 EURm
* Net profit 6,57 EURm
* Total equity? 43,9 EURm
* Return on equity 22,1%
Consolidated statement of profit and loss and other comprehensive
income
EURt
Q3 Q3
2019 9 months 2019 2018 9 months 2018
----------------------------------------------------------------------
Interest income 9 854 26 983 7 079 15 785
Interest expense -1 685 -4 471 -1 151 -2 549
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Net interest income 8 169 22 512 5 928 13 236
----------------------------------------------------------------------
Fee income 255 687 188 523
Fee expense -459 -1 261 -370 -720
----------------------------------------------------------------------
Net fee and commission
income -204 -574 -182 -197
----------------------------------------------------------------------
Net gains from financial
assets measured at fair
value 273 539 0 1 204
Other operating income 25 578 277 452
----------------------------------------------------------------------
Total net interest, fee
and other income 8 263 23 055 6 023 14 695
----------------------------------------------------------------------
Personnel expenses -2 001 -5 898 -1 509 -4 034
Marketing expenses -518 -1 687 -474 -945
Administrative expenses -1 009 -2 739 -800 -1 832
Depreciations,
amortisation -333 -912 -124 -284
----------------------------------------------------------------------
Total operating expenses -3 861 -11 236 -2 907 -7 095
----------------------------------------------------------------------
----------------------------------------------------------------------
Profit before profit from
associates and impairment
losses on loans 4 402 11 819 3 116 7 600
----------------------------------------------------------------------
Share of profit from
associates 0 0 0 1 986
Impairment losses on loans
and advances -1 898 -4 845 -1 248 -3 087
----------------------------------------------------------------------
Profit before income tax 2 504 6 974 1 868 6 499
----------------------------------------------------------------------
Income tax -283 -408 -322 -274
----------------------------------------------------------------------
Profit for the period 2 221 6 566 1 546 6 225
----------------------------------------------------------------------
Other comprehensive
income/loss
Items that may be
reclassified subsequently
to profit or loss
Currency translation
differences 133 82 -58 52
----------------------------------------------------------------------
Total comprehensive income
for the period 2 354 6 648 1 488 6 277
----------------------------------------------------------------------
Net profit attributable to
Shareholders of parent
company 2 221 6 566 1 541 6 214
Non-controlling interest 0 0 4 11
----------------------------------------------------------------------
Profit for the reporting
period 2 221 6 566 1 545 6 225
----------------------------------------------------------------------
Total comprehensive income/loss is attributable to
Shareholders of parent
company 2 354 6 648 1 483 6 266
Non-controlling interest 0 0 5 11
----------------------------------------------------------------------
Total comprehensive income
for the reporting period 2 354 6 648 1 488 6 277
----------------------------------------------------------------------
Consolidated statement of financial position
EURt
30.09.2019 31.12.2018
-------------------------------------------------------------------------------
Assets
Cash in hand 4 4
Due from central banks 89 754 64 620
Due from credit institutions 29 411 13 700
Financial assets at fair value through profit and loss 2 390 4 600
Loans and advances 310 341 225 639
Investments in associates 97 97
Tangible assets 725 545
Right of use asset 764 0
Intangible assets 10 365 7 697
Other financial assets 83 64
Other assets 462 514
Deferred tax asset 1 573 564
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Total assets 445 969 318 044
-------------------------------------------------------------------------------
Loan from credit institution 0 10 429
Customer deposits 375 133 240 175
Other financial liabilities 10 801 8 776
Other liabilities 2 526 2 654
Debt securities issued 4 009 10 017
Subordinated debt securities 9 551 9 528
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Total liabilities 402 020 281 579
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Equity
Share capital 903 874
Share premium 15 908 15 053
Statutory reserve capital 88 79
Other reserves 1 536 1 401
Retained earnings 25 514 19 018
-------------------------------------------------------------------------------
Total equity attributable to the shareholders of parent
company 43 949 36 425
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Non-controlling interest 0 40
-------------------------------------------------------------------------------
Total equity 43 949 36 465
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
Total liabilities and equity 445 969 318 044
-------------------------------------------------------------------------------
Inbank Q3 2019 Interim Report in English will be published on the 1st of
November, 2019
Inbank is a consumer finance focused digital bank active in the Baltics and
Poland with additional deposits accepted in Germany, Austria and Holland. Inbank
has over 1,700 active partners and 519,000 active contracts. Inbank bonds are
listed on the Nasdaq Baltic Stock Exchange.
Additional information
Kärri Brewster-Palts
Inbank AS
Head of Group Marketing
[email protected]
00372 5565 5500