Bigbank’s Unaudited Financial Results for Q4 and 12 months of 2025
BIGBANK AS
By the end of the year, Bigbank’s loans to customers were at a record high of 2.7 billion euros, having increased by 127 million euros (+5%) over the quarter and 511 million euros (+23%) over the year. As in previous periods, growth was driven by the strategic business and home loan product lines. The business loan portfolio increased by 90 million euros (+10%) to 1.0 billion euros and the home loan portfolio by 47 million euros (+6%) to 820 million euros. However, the consumer loan portfolio decreased by 24 million euros (-3%) to 854 million euros. The share of consumer loans in the total loan portfolio is currently declining. The decrease in the consumer loan portfolio was largely due to the sale of the 20 million euro portfolio of the Swedish branch in November.
The deposit portfolio also continued to grow. In the fourth quarter, growth was driven by the term deposit portfolio, which increased by 86 million euros (+7%) to 1.4 billion euros. The savings deposit portfolio grew by 54 million euros, reaching 1.4 billion euros. Current accounts also showed solid growth in the fourth quarter, increasing by 11 million euros to 20 million euros. In December, Bigbank began offering current accounts to corporate customers in Estonia. Previously, the group offered current accounts to retail customers only. Bigbank’s total deposit portfolio grew by 152 million euros (+6%) over the quarter and by 486 million euros (+20%) over the year, rising to 2.9 billion euros.
Bigbank ended the fourth quarter of 2025 with a net profit of 7.7 million euros and the full year with a net profit of 37.9 million euros. Compared to 2024, net profit for the fourth quarter grew by 3.1 million euros, while net profit for the year grew by 5.6 million euros.
Interest income for the fourth quarter amounted to 46.9 million euros, an increase of 3.5 million euros (+8%) year on year. Interest expense for the quarter was 19.3 million euros, a decrease of 0.8 million euros (-4%) compared to the same period last year. As a result, Bigbank’s net interest income increased by 4.3 million euros (+18%) compared to the fourth quarter of 2024, reaching 27.5 million euros. The group also increased its full-year net interest income, which rose by 3.8 million euros (+4%) to 106.2 million euros.
The quality of the loan portfolio remained stable in the fourth quarter – net expected credit loss allowances decreased by 1.0 million euros year on year to 3.6 million euros. However, the net expected credit loss allowances for the full year decreased by 50%, i.e. by 11.9 million euros to 12.0 million euros. The credit quality of consumer loans continues to improve, while that of home loans remains very high and that of business loans remains stable. At the end of the year, the volume of stage 3 loans was 118 million euros, accounting for 4.3% of the total loan portfolio. The figure decreased by 0.1 percentage points quarter on quarter and by 0.6 percentage points compared to the end of 2024.
Bigbank’s strong and significantly expanded team has played a key role in boosting the group’s business volumes. The number of staff grew by 26 during the quarter and by 79 during the year (+14%), rising to 639. The main factors behind this growth were the launch of everyday banking products and the commitment to providing high-quality customer service in the context of growing loan and deposit portfolios. Salary expenses and associated charges increased to 10.0 million euros in the fourth quarter, exceeding the figure for the same period in 2024 by 1.7 million euros (+20%). Annual salary expenses increased by 6.5 million euros (+23%) to 34.4 million euros.
At the end of 2025, the group’s investment property portfolio stood at 84.7 million euros, reflecting an increase of 2.4 million euros during the quarter and 18.3 million euros during the year. The portfolio comprises agricultural land and commercial premises. Changes in the value of investment properties resulted in a gain of 0.9 million euros in 2025, an improvement of 2.5 million euros on the loss of 1.6 million euros recorded in 2024.
Bigbank’s equity reached an all-time high of 299.4 million euros by the end of 2025. Return on equity (ROE) was 13.3%. Compared to 2024, return on equity increased by 0.8 percentage points.
Income statement, in thousands of euros
Q4 2025
Q4 2024
12M 2025
12M 2024
Net interest income
27,541
23,266
106,228
102,356
Net fee and commission income
2,815
2,499
10,574
9,224
Net income (loss) on financial assets
-210
1,145
1,584
5,246
Net other operating income
-1,184
-1,350
-3,917
-4,150
Total net operating income
28,962
25,560
114,469
112,676
Salaries and associated charges
-9,940
-8,204
-34,438
-27,780
Administrative expenses
-3,404
-2,766
-12,285
-11,547
Depreciation, amortisation and impairment
-2,300
-2,052
-8,852
-8,349
Other gains (losses)
195
-1,730
412
-1,836
Total expenses
-15,449
-14,752
-55,163
-49,512
Profit before loss allowances
13,513
10,808
59,306
63,164
Net expected credit loss allowances
-3,675
-4,606
-12,025
-23,899
Profit before income tax
9,838
6,202
47,281
39,265
Income tax expense
-2,105
-1,514
-9,350
-7,017
Profit for the period from continuing operations
7,733
4,688
37,931
32,248
Profit from discontinued operations
0
0
0
29
Profit for the period
7,733
4,688
37,931
32,277
Statement of financial position, in thousands of euros
31 Dec 2025
30 Sept 2025
31 Dec 2024
Cash and cash equivalents
448,876
419,470
448,661
Debt securities at FVOCI
37,226
34,796
22,334
Loans to customers
2,707,537
2,580,940
2,196,482
Other assets
123,084
116,779
110,939
Total assets
3,316,723
3,151,985
2,778,416
Customer deposits and loans received
2,887,687
2,735,153
2,401,689
Subordinated notes
106,744
106,976
91,668
Other liabilities
22,891
17,511
15,290
Total liabilities
3,017,322
2,859,640
2,508,647
Equity
299,401
292,345
269,769
Total liabilities and equity
3,316,723
3,151,985
2,778,416
Commentary by Martin Länts, chairman of the management board of Bigbank AS:
“2025 was a year of steady growth and strong financial performance for Bigbank. Despite an uncertain economic environment, we continued to implement our strategy and strengthened our position as an ambitious and profitable bank. The Group’s profit increased by 17% to 37.9 million euros, the loan portfolio grew by 22% to 2.7 billion euros, and deposit volumes rose by 20% to 2.9 billion euros. Growth was driven primarily by home and business loans.
One of the most important achievements of the year was the significant expansion of our everyday banking capabilities. We launched current account services for retail customers in Latvia and Lithuania and for corporate customers in Estonia. We introduced a new mobile app across the Baltics, offering a convenient and intuitive everyday banking experience. Our payment solutions were expanded with support for Google, Garmin and Fitbit Pay. Payment security improved with the introduction of the Verification of Payee functionality, and retail customers in Estonia gained access to e‑invoicing.
A key factor in the successful rollout of everyday banking services was Bigbank’s direct membership in the SEPA Step2 system, which came into effect in 2025. This increased the reliability and resilience of our services. By the end of the year, Bigbank served more than 19,000 current account customers across the Baltics. Rapid customer growth and positive feedback confirm that our investments in everyday banking meet customer expectations and provide a solid basis for launching a full range of everyday banking services in the first half of 2026.
The Group’s capital position also strengthened in 2025. We successfully completed a public Tier 2 bond issue and direct placements of Additional Tier 1 (AT1) instruments, supporting Bigbank’s stability and enabling us to move confidently towards our long‑term strategic objectives. Our organisational culture was also recognised with the Family‑friendly Employer Gold Level award.
We enter 2026 – the final year of our current strategy period – with clear priorities: to continue growing our loan portfolio and to bring our everyday banking services to full scale. I would like to thank all our employees, customers, investors and partners for their trust and cooperation.”
Bigbank AS (www.bigbank.eu), with over 30 years of operating history, is a commercial bank owned by Estonian capital. As of 31 December 2025, the bank’s total assets amounted to 3.3 billion euros, with equity of 299 million euros. Operating in nine countries, the bank serves more than 188,000 active customers and employs over 600 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: argo.kiltsmann@bigbank.ee www.bigbank.ee
