Photo of Judita Grigelyts (V).
Estonian Capital Bank Bigbank in 2024 earned 6.4 million last quarter. EUR net profit, 33% less than last year in the same period.
Q1 net income compared to 2023 sausiukova, grew by 15% to 28.8 million. Eur. The income received by Palkan amounted to 26.4 million. EUR, or 17% more than a year ago, Bigbank announced on Nasdaq Bir.
Martinas Lantsas, the chairman of the board of Bigbank, states in the announcement that the biggest reason for the decreased profit was the increase in savings, expenses for employee salaries, the costs of the deposit guarantee fund, as well as the increased amortization of intangible assets.
Management announces that at the end of the first quarter, Bigbank’s total loan portfolio grew to 1.75 billion. EUR, increased by 5% or 86 million during the fourth quarter. EUR, and 23% or 325 million per year. Eur.
The major part of the loan portfolio (EUR 762 million) is consumer loans, EUR 600 million. EUR is given to companies, 43 million remain. Euro bank loans.
The total deposit portfolio of Bigbank increased by 11% in the fourth quarter, 44% in the year, and reached 2.15 billion. Eur.
According to Bigbank, the economic situation and reduced consumption had a negative impact on its consumer loan portfolio for the second quarter in a row.
Compared to previous data, there is no significant deterioration, but the quality of the consumer loan portfolio has deteriorated in recent months. The quality of the housing loan portfolio did not deteriorate, but the quality of the bank loan portfolio decreased somewhat in the first quarter. The share of non-performing loans and provisions increased, according to Bigbank’s statement.
in 2024 in the first quarter, provisions to cover loan losses amounted to 2.2 million. Eur.
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