Published: 2020-03-10 07:00:00 CET
Annual Financial Report

Inbank Audited Financial Results for 2019

In 2019 Inbank earned an audited net profit of 10.0 million euros growing 8% year-on-year. Inbank’s loan portfolio increased 50% compared to 2018 reaching 338 million euros. At the same time, the deposit portfolio grew 57%, reaching 378 million euros at year end. Annual return on equity was 23.9%.

Inbank AS consolidated annual report 2019 has been enclosed to the announcement and will be made available on Inbank’s website at

  • Annual sales volume in 2019 was 305 million euros; that is, a 46% increase year-on-year. Sales figures by market were the following: Lithuania 102 million, Estonia 94 million, Poland 55 million and Latvia 53 million euros.
  • Inbank has a total of 411,000 active clients and 550,000 active contracts by the end of 2019.
  • During the year, 59 new people joined the company and by the end of 2019, Inbank employs a total of 215 talents.

In December 2019, Inbank issued subordinated bonds in the amount of 8 million euros to support its international growth. The bonds were listed on the Nasdaq Tallinn Stock Exchange thereafter. In total, 1,348 investors subscribed 38 million euros, oversubscribing the initial 6.5 million issue by 5.8 times.

Inbank sold its final 7.94% stake in Coop Pank AS during and prior to the Coop Pank 2019 IPO. Utilising the capital regained from this investment, Inbank increased its holding in the largest payment solutions provider in Estonia, Maksekeskus AS, to 29.8% (7.6% in 2018). As a result of the sale of the shares in Coop Pank and the revaluation of the investment in Maksekeskus, Inbank recorded 1.5 million euros of non-recurring income.

In November 2019, the Lithuanian Central Bank gave Inbank permission to establish a branch and commence banking activities, after which Inbank started collecting deposits from the Lithuanian term deposit market. In addition, Inbank completed a cross-border merger with Mokilizingas AB.

Key Financial Indicators 31.12.2019

Total assets EUR 463 million
Loan portfolio EUR 338 million
Deposit portfolio EUR 378 million
Net profit EUR 10 million
Total equity EUR 47 million
Return on equity 23.9%

Inbank is a consumer finance focused digital bank active in the Baltics and Poland with additional deposits accepted in Germany, Austria and the Netherlands. Inbank has over 2,000 active partners and 550,000 active contracts. Inbank bonds are listed on the Nasdaq Baltic Stock Exchange.

Additional information:

Merit Arva
Inbank AS
Head of Corporate Communications
+372 553 3550