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Bigbank AS Results for April 2025

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Bigbank's loan portfolio grew by 55 million euros in April, representing the
highest monthly increase so far this year. The growth continues to be driven by
key products: the corporate loan portfolio increased by 26 million euros, and
the home loan portfolio increased by 20 million euros. The consumer loan
portfolio grew by 9 million euros.

The deposit portfolio decreased by a total of 12 million euros in April. The
larger liquidity buffer accumulated in the first quarter enabled continued
optimisation of deposit pricing across all Bigbank markets during April. As a
result, the volume of term deposits declined by 50 million euros, while the
volume of savings deposits increased by 37 million euros. As the interest rates
on term and savings deposits have decreased, customers are increasingly opting
for the more flexible savings deposit product when placing new deposits.

Net interest income at the end of April was 0.6 million euros, or 2%, lower
year-on-year. On the interest income side, the growing loan portfolio has so far
been sufficient to offset the lower income resulting from the decline in
Euribor. However, interest expenses have grown at a slightly faster pace, as the
drop in deposit interest rates has lagged behind the decline in Euribor and the
deposit portfolio has expanded.

One of the most positive developments in April was that the net allowance for
expected credit losses remained significantly lower than in the same period last
year. This is mainly due to improved repayment behaviour in the consumer loan
portfolios of the Baltic countries. Despite the significant growth in the loan
portfolio, the net allowance for expected credit losses and provision expenses
decreased by a total of 4.2 million euros, or 42%, in the first four months of
the year compared to the same period in 2024.

Net profit in April amounted to 3.0 million euros - a solid result considering
the continued decline in interest rates. It is also encouraging that the lower
net interest income compared to last year has been compensated by lower expected
credit losses, reduced administrative expenses, and growing net fee income. One
of the key contributors to the strong performance is Bigbank's dedicated and
expanding team. At the same time, the growing team has increased salary expenses
by 1.3 million euros over the four-month period. A negative development has been
the 1.1 million euro increase in income tax expenses over the same period,
mainly due to higher income tax rates introduced in Estonia and Lithuania at the
beginning of 2025.

Bigbank's key financial indicators for April 2025:

  * Customer deposits and loans received increased by 358 million euros over the
    year, reaching 2.55 billion euros (+16%).
  * Loans to customers grew by 573 million euros year-on-year, reaching 2.37
    billion euros (+32%).
  * Net interest income totalled 8.4 million euros in April; the four-month
    total reached 34.0 million euros. Compared to the same period last year, net
    interest income declined by 0.6 million euros (-2%).
  * Net allowance for expected credit losses and provision expenses totalled
    5.8 million euros in the first four months of the year, down 4.2 million
    euros or 42% year-on-year.
  * Net profit in April was 3.0 million euros. Cumulative profit for the first
    four months amounted to 12.9 million euros, an increase of 3.6 million euros
    or 38% compared to the same period in 2024.
  * Return on equity in April was 13.4%.


 Income statement, in thousands of                                  Difference
 euros                                Apr 2025     YTD25     YTD24     YoY
-------------------------------------------------------------------------------
 Total net operating income, incl.       9,082    38,236    37,598     638  +2%

 Net interest income                     8,384    33,958    34,592    -634  -2%

 Net fee and commission income             853     3,376     2,901     475 +16%

 Total expenses, incl.                  -4,131   -16,485   -16,421     -64  +0%

 Salaries and associated charges        -2,517    -9,993    -8,734  -1,259 +14%

 Administrative expenses                  -898    -3,650    -4,943   1,293 -26%

 Profit before loss allowances           4,951    21,751    21,177     574  +3%

 Net allowance for expected credit
 losses and provision expenses          -1,178    -5,813    -9,965   4,152 -42%

 Income tax expense                       -737    -3,038    -1,892  -1,146 +61%

 Profit for the period from
 continuing operations                   3,036    12,900     9,320   3,580 +38%

 Profit or loss before tax from
 discounted operations                       0         0        29     -29
-------------------------------------------------------------------------------
 Profit for the period                   3,036    12,900     9,349   3,551 +38%
-------------------------------------------------------------------------------




 Business volumes, in thousands of                                  Difference
 euros                                Apr 2025     YTD25     YTD24     YoY
-------------------------------------------------------------------------------
 Customer deposits and loans
 received                            2,548,170 2,548,170 2,190,221 357,949 +16%

 Loans to customers                  2,367,531 2,367,531 1,794,458 573,073 +32%



 Key figures                                                        Difference
                                      Apr 2025     YTD25     YTD24     YoY
-------------------------------------------------------------------------------
 ROE                                     13.4%     14.2%     11.4%  +2.8pp

 Cost / income ratio (C/I)               45.5%     43.1%     43.7%  -0.6pp

 Net promoter score (NPS)                   59        58        58      +0


Compared to the financial results published for April 2024, the net interest
income and the net allowance for expected credit losses for the prior period
have been adjusted, both reduced by 0.6 million euros. The adjustment is related
to an identified error, where interest income from impaired financial assets had
been accrued on the gross exposure rather than on a net basis. This correction
does not impact the net profit for April 2024.

Bigbank AS (www.bigbank.eu (http://www.bigbank.eu)), with over 30 years of
operating history, is a commercial bank owned by Estonian capital. As of 30
April 2025, the bank's total assets amounted to 2.9 billion euros, with equity
of 274 million euros. Operating in nine countries, the bank serves more than
170,000 active customers and employs over 550 people. The credit rating agency
Moody's has assigned Bigbank a long-term bank deposit rating of Ba1, along with
a baseline credit assessment (BCA) and an adjusted BCA of Ba2.

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