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Bigbank AS results for February 2024

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Bigbank's business volumes continued to grow in February.

The overall interest rate environment has stabilised at a high level, but
interest rates are expected to decline in the second half of the year. As a
result, deposit customers continue to look for opportunities to make longer-term
deposits on reasonable terms. This has a significant impact on Bigbank, which
offers attractive deposit rates: the bank's deposit portfolio continued to grow,
reaching a record 2.1 billion euros. The term deposit and savings deposit
portfolios grew relatively equally.

Market demand for both housing and corporate loans was quite low, while price
competition increased. However, as Bigbank offers competitive loan products and
high service quality, the loan portfolio also grew significantly. Growth was
recorded for all product groups, with the largest increase in the housing loan
portfolio, but the consumer and corporate loan portfolios also grew quite
rapidly.

The quality of the loan portfolio continued to decline slightly. This was
reflected in growth in net loss allowances for loans and financial investments
compared to the same period last year. On the positive side, the figure for
February was lower than in January, the level of the non-performing loan
portfolio remains low, and the overall quality of the portfolio is good.

Net profit of 2.6 million euros for February is satisfactory. Compared to the
same period last year, Bigbank's net profit for the first two months decreased
by 0.1 million euros. The main reason is higher income tax expense due to the
income tax levied on credit institutions in Latvia, which has been affecting
Bigbank's financial results since December 2023. Profit before tax for the first
two months grew by 0.4 million euros compared to the same period last year.

Bigbank's financial performance in February 2024:

  * Deposits from customers and loans received grew by 605 million euros year on
    year to 2.1 billion euros (+41%).
  * Loans to customers increased by 331 million euros year on year to 1.7
    billion euros (+24%).
  * Net interest income was 8.4 million euros for February and 17.8 million
    euros for the first two months of the year, an increase of 3.5 million
    (+25%) on the same period last year.
  * Net loss allowances for loans and financial investments for the first two
    months of the year totalled 4.8 million euros, an increase of 2.0 million
    euros (+75%) compared to the same period last year.
  * Net profit amounted to 2.6 million euros for February and 5.8 million euros
    for the first two months of the year, a decrease of 0.1 million euros (-2%)
    compared to the same period in 2023.
  * Return on equity was 12.2%.

 Income statement, in thousands of                                  Difference
 euros                                Feb 2024     YTD24     YTD23     YoY
-------------------------------------------------------------------------------
 Total net operating income, incl.       9,665    19,601    15,923   3,678 +23%

 Net interest income                     8,421    17,768    14,263   3,505 +25%

 Net fee and commission income             715     1,436     1,314     123  +9%

 Total expenses, incl.                  -4,118    -7,939    -6,696  -1,243 +19%

 Salaries and associated charges        -2,122    -4,336    -3,725    -612 +16%

 Administrative expenses                -1,364    -2,389    -2,300     -89  +4%

 Profit before loss allowances           5,547    11,661     9,227   2,435 +26%

 Net loss allowances on loans and
 financial investments                  -2,279    -4,787    -2,739  -2,048 +75%

 Income tax expense                       -706    -1,064      -547    -517 +95%

 Profit for the period from
 continuing operations                   2,563     5,811     5,942    -130  -2%

 Loss before tax from discounted
 operations                                  0         0         0       0
-------------------------------------------------------------------------------
 Profit for the period                   2,563     5,811     5,942    -130  -2%
-------------------------------------------------------------------------------




 Business volumes, in thousands of                                  Difference
 euros                                Feb 2024     YTD24     YTD23     YoY
-------------------------------------------------------------------------------
 Customer deposits and loans
 received                            2,093,121 2,093,121 1,487,717 605,405 +41%

 Loans to customers                  1,720,258 1,720,258 1,389,328 330,930 +24%



 Key figures                                                        Difference
                                      Feb 2024     YTD24     YTD23     YoY
-------------------------------------------------------------------------------
 ROE                                     12.2%     13.9%     16.5%  -2.6pp

 Cost / income ratio (C/I)               42.6%     40.5%     42.1%  -1.5pp

 Net promoter score (NPS)                   59        58        56      +2


Bigbank AS (www.bigbank.eu (http://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
E-mail: argo.kiltsmann@bigbank.ee (mailto:argo.kiltsmann@bigbank.ee)
www.bigbank.ee (http://www.bigbank.ee)