Bigbank AS Results for July 2025
Bigbank’s loan portfolio grew by 59 million euros in July, marking the largest monthly increase in 2025. The growth was once again driven by focus products: the business loan portfolio expanded by 30 million euros, the home loan portfolio by 20 million euros, and the consumer loan portfolio by 9 million euros. By the end of July, the total loan portfolio reached 2.5 billion euros.
The deposit portfolio grew by 71 million euros in July. This growth was led by the savings deposit product, which increased by 73 million euros, while the term deposit portfolio declined by 3 million euros. The trend continues where maturing term deposits are being redirected into the more flexible savings deposit product. The balance of Estonian retail customers’ bank accounts grew by 1.0 million euros during the month, reaching 4.3 million euros by the end of July. All bank account holders continue to earn a market-leading 2% interest.
A stabilising interest rate environment has eased pressure on net interest income. In July, the 6-month Euribor remained at 2.05%, keeping interest levels stable for Euribor-linked business and home loans. Meanwhile, the average interest rate on the deposit portfolio has slightly declined. Net interest income for the first seven months of 2025 increased by 1.7 million euros compared to the same period last year.
The credit quality of the loan portfolio continued to improve. Compared to the first seven months of 2024, net allowances for expected credit losses and provision expenses decreased by 9.1 million euros, or 60%. This improvement was primarily driven by better repayment behaviour in the consumer loan segment across all three Baltic countries. The share of non-performing exposures (Stage 3) remained stable at 4.7% as of the end of June.
Net profit for July was 3.6 million euros – a strong result. In addition to the increase in net interest income and the decline in credit losses, net fee and commission income rose by 0.8 million euros over the seven-month period, while administrative expenses decreased by 0.3 million euros.
Bigbank’s team grew to 614 employees by the end of July. The expansion of the team, combined with salary increases, led to a 3.7 million euro rise in personnel expenses compared to the same period last year. A negative development was the 1.9 million euro increase in income tax expenses over the seven-month period, mainly due to higher income tax rates introduced in Estonia and Lithuania at the beginning of 2025.
Bigbank’s key financial indicators for July 2025:
- Customer deposits and loans received increased by 482 million euros year-on-year, reaching 2.7 billion euros (+21%).
- Loans to customers grew by 518 million euros year-on-year, reaching 2.5 billion euros (+26%).
- Net interest income totalled 9.3 million euros in July; the seven-month total reached 60.6 million euros. Compared to the same period last year, net interest income increased by 1.7 million euros (+3%).
- Net allowance for expected credit losses and provision expenses totalled 6.1 million euros in the first seven months of the year, down 9.1 million euros or 60% year-on-year.
- Net profit in July was 3.6 million euros. Cumulative profit for the first seven months amounted to 22.3 million euros, an increase of 3.1 million euros or 16% compared to the same period in 2024.
- Return on equity in July was 15.1%.
| Income statement, in thousands of euros | July 2025 | YTD25 | YTD24 | Difference YoY | |
| Total net operating income, incl. | 9,182 | 66,208 | 65,142 | 1,066 | +2% |
| Net interest income | 9,265 | 60,601 | 58,880 | 1,721 | +3% |
| Net fee and commission income | 883 | 5,956 | 5,182 | 774 | +15% |
| Total expenses, incl. | -4,678 | -32,004 | -26,822 | -5,182 | +19% |
| Salaries and associated charges | -2,991 | -18,726 | -15,073 | -3,652 | +24% |
| Administrative expenses | -952 | -6,579 | -6,887 | 308 | -4% |
| Profit before loss allowances | 4,503 | 34,204 | 38,320 | -4,116 | -11% |
| Net allowance for expected credit losses and provision expenses | -85 | -6,128 | -15,255 | 9,127 | -60% |
| Income tax expense | -869 | -5,784 | -3,859 | -1,925 | +50% |
| Profit for the period from continuing operations | 3,550 | 22,291 | 19,205 | 3,086 | +16% |
| Profit or loss before tax from discounted operations | 0 | 0 | 29 | -29 | |
| Profit for the period | 3,550 | 22,291 | 19,234 | 3,057 | +16% |
| Business volumes, in thousands of euros | July 2025 | YTD25 | YTD24 | Difference YoY | |
| Customer deposits and loans received | 2,727,485 | 2,727,485 | 2,245,878 | 481,607 | +21% |
| Loans to customers | 2,491,621 | 2,491,621 | 1,973,363 | 518,258 | +26% |
| Key figures | July 2025 | YTD25 | YTD24 | Difference YoY | |
| ROE | 15.1% | 13.8% | 13.2% | +0.6pp | |
| Cost / income ratio (C/I) | 51.0% | 48.3% | 41.2% | +7.2pp | |
| Net promoter score (NPS) | 60 | 58 | 58 | +0 | |
Compared to the financial results published for July 2024, the net interest income and net allowance for expected credit losses for the same period last year have been adjusted, reducing both by 1.7 million euros. The adjustment is related to an identified error, where interest income from impaired financial assets had been calculated based on the gross position of the assets rather than on a net basis. This correction does not impact the net profit for July 2024.
Bigbank AS (www.bigbank.eu), with over 30 years of operating history, is a commercial bank owned by Estonian capital. As of 31 July 2025, the bank’s total assets amounted to 3.1 billion euros, with equity of 284 million euros. Operating in nine countries, the bank serves over 175,000 active customers and employs more than 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
