Financial results audited by Inbank for 2020 Tallinn Stock Exchange: INBB070026A


In 2020, Inbank achieved a net profit of 5.9 million euros, 41% lower than the previous year. Inbank’s loan portfolio increased by 19% compared to 2019 to reach 402 million euros. At the same time, the deposit portfolio grew by 4% to reach € 391 million at the end of the year. The annual return on equity was 10.8%.

  • The annual sales volume in 2020 was 300 million euros; that is, a 4% increase from one year to the next. In all markets, sales financing activity grew by 38% to 206 million euros. At the same time, the sales volume of personal loans fell 51% to 36 million euros, while auto financing decreased 11% in sales volume to 58 million euros.
  • Provisions for loan losses increased by 91% year-on-year to € 11.5 million.
  • At the end of 2020, the number of active contracts reached 690,000, up 25% year on year. The number of active partners increased by 31% and reached 3,800 at the end of the year.

Jan Andresoo, Chairman of the Management Board, comments on the results:

“ Without a doubt, 2020 has been a difficult year, and the coronavirus crisis has also put Inbank to the test. Nevertheless, we can be satisfied with the results.

The fact that we were able to increase our sales by 4% during this difficult year is a good message in itself. Sales financing continued to grow and green financing emerged as a new segment. We also launched a next-generation credit card and app and expanded our line of payment products later.

In total, our loan portfolio grew by 19%, with a significant contribution from the Polish business unit, whose portfolio grew by 128% or 50 million euros over one year. I see 2020 as a breakthrough year for the Polish unit, and it seems that we have finally found the right strategy and our niche: we are competing in the market with our products and our innovation.

We ended the year with a decent profit of 5.9 million euros, despite the additional provisions we have made to cover future loan losses due to the coronavirus crisis.

In addition, the year-end share issuance made it clear to us that Inbank’s business model and team are still attractive to investors. To support future growth, we raised € 8 million in new capital through a share issue, which brought the market value of Inbank’s equity to € 149 million.

I look to the future positively. If 2020 was the year in which the foundations for international growth were laid, then in 2021 we have a clear goal: to enter a new market and continue to innovate in the buy now, pay later segment. ”

Key financial indicators December 31, 2020

Total assets 490.0 million EUR
Loan portfolio EUR 402.2 million
Deposit portfolio € 391.3 million
Equity € 61.2 million
Net profit 5.9 million euros
Return on equity 10.8%

The Consolidated Annual Report of Inbank AS 2020 has been attached to the announcement and will be available on Inbank’s website at the following address:

Inbank is a consumer credit-focused digital bank active in the Baltic States and Poland, with additional deposits accepted in Germany, Austria and the Netherlands. Inbank has more than 3,800 active partners and 690,000 active contracts. Bank bonds are listed on the Nasdaq Baltic Stock Exchange.

Further information:

Merit Arva
Inbank AS
Head of corporate communications
[email protected]
+372 553 3550


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