Blab Business
Bigbank Posts Strong May 2026 Results, Expands Current Accounts Across Baltics
Bigbank AS surprised market observers in May 2026, posting a net profit that topped €4 million and expanding both its loan and deposit bases. The bank also rolled out current accounts for business customers in Latvia, completing its retail current‑account network across all three Baltic states.
The loan portfolio grew by €50 million, a lift that came largely from a €32 million jump in business loans, a €13 million rise in home loans and a €5 million increase in consumer loans. Deposits swelled by €64 million, driven by €55 million in term deposits, while current‑account balances rose by €10 million and the number of everyday‑banking customers continued to climb.
Net interest income for the month hit €10.5 million. Across the first five months of 2026, that figure reached €49.8 million – a €7.0 million, or 16 %, jump over the same period in 2025. The gain was largely attributed to the expanding loan book; the 6‑month Euribor, which has hovered around 2.5 % in recent months, has not yet had a marked effect on income, but a higher rate environment is expected to influence both income and expenses over time.
Credit quality remained robust. The net allowance for expected credit losses and provisions fell by €3.3 million (49 %) versus the first five months of 2025, and the share of non‑performing loans (Stage 3) improved from 4.3 % to 4.2 % of total loan receivables.
Personnel and administrative costs climbed. Personnel expenses rose by €3.8 million and administrative expenses by €1.3 million in the first five months of the year. Even with these higher costs, May’s net profit was €4.1 million. The Group’s net profit for the first five months of 2026 totaled €15.7 million, down €0.6 million (4 %) from the same period in 2025. The decline was largely due to a €2.6 million impairment of the Group’s agricultural land recognized in the first quarter; excluding that hit, the Group’s profit would have risen by €2.0 million.
Key financial metrics for May 2026 were: - Return on equity (ROE): 15.9 % (down 1.9 pp from 12.4 % YTD) - Cost‑to‑income ratio: 52.4 % (up 11.7 pp from 55.4 % YTD) - Net promoter score (NPS): 57 (unchanged from 58 YTD)
The bank’s total assets stood at €3.6 billion, with equity of €307 million. It operates in nine countries, serves more than 202,000 active customers, and employs 650 staff. Moody’s assigned Bigbank a long‑term bank deposit rating of Ba1, along with a baseline credit assessment (BCA) and an adjusted BCA of Ba2.
The launch of business current accounts in Latvia marks a milestone in Bigbank’s expansion strategy. Retail current accounts are now available in Estonia, Latvia and Lithuania, while business accounts are offered in Estonia and Latvia. The move is expected to broaden the bank’s retail footprint and deepen relationships with small and medium‑sized enterprises.
Looking ahead, the bank’s management will monitor the impact of rising Euribor rates on interest income and expenses, and will continue to focus on maintaining strong credit quality while expanding its product offering. Investors and analysts will watch the upcoming earnings reports for further detail on the Group’s performance and any adjustments to guidance.
In summary, Bigbank’s May 2026 results demonstrate solid growth in core lending and deposit activities, a resilient credit profile, and a profitable return on equity, despite higher operating costs and a one‑time impairment. The bank’s expansion of current‑account services across the Baltics positions it to capture additional retail and business banking revenue in the coming months.
The loan portfolio grew by €50 million, a lift that came largely from a €32 million jump in business loans, a €13 million rise in home loans and a €5 million increase in consumer loans. Deposits swelled by €64 million, driven by €55 million in term deposits, while current‑account balances rose by €10 million and the number of everyday‑banking customers continued to climb.
Net interest income for the month hit €10.5 million. Across the first five months of 2026, that figure reached €49.8 million – a €7.0 million, or 16 %, jump over the same period in 2025. The gain was largely attributed to the expanding loan book; the 6‑month Euribor, which has hovered around 2.5 % in recent months, has not yet had a marked effect on income, but a higher rate environment is expected to influence both income and expenses over time.
Credit quality remained robust. The net allowance for expected credit losses and provisions fell by €3.3 million (49 %) versus the first five months of 2025, and the share of non‑performing loans (Stage 3) improved from 4.3 % to 4.2 % of total loan receivables.
Personnel and administrative costs climbed. Personnel expenses rose by €3.8 million and administrative expenses by €1.3 million in the first five months of the year. Even with these higher costs, May’s net profit was €4.1 million. The Group’s net profit for the first five months of 2026 totaled €15.7 million, down €0.6 million (4 %) from the same period in 2025. The decline was largely due to a €2.6 million impairment of the Group’s agricultural land recognized in the first quarter; excluding that hit, the Group’s profit would have risen by €2.0 million.
Key financial metrics for May 2026 were: - Return on equity (ROE): 15.9 % (down 1.9 pp from 12.4 % YTD) - Cost‑to‑income ratio: 52.4 % (up 11.7 pp from 55.4 % YTD) - Net promoter score (NPS): 57 (unchanged from 58 YTD)
The bank’s total assets stood at €3.6 billion, with equity of €307 million. It operates in nine countries, serves more than 202,000 active customers, and employs 650 staff. Moody’s assigned Bigbank a long‑term bank deposit rating of Ba1, along with a baseline credit assessment (BCA) and an adjusted BCA of Ba2.
The launch of business current accounts in Latvia marks a milestone in Bigbank’s expansion strategy. Retail current accounts are now available in Estonia, Latvia and Lithuania, while business accounts are offered in Estonia and Latvia. The move is expected to broaden the bank’s retail footprint and deepen relationships with small and medium‑sized enterprises.
Looking ahead, the bank’s management will monitor the impact of rising Euribor rates on interest income and expenses, and will continue to focus on maintaining strong credit quality while expanding its product offering. Investors and analysts will watch the upcoming earnings reports for further detail on the Group’s performance and any adjustments to guidance.
In summary, Bigbank’s May 2026 results demonstrate solid growth in core lending and deposit activities, a resilient credit profile, and a profitable return on equity, despite higher operating costs and a one‑time impairment. The bank’s expansion of current‑account services across the Baltics positions it to capture additional retail and business banking revenue in the coming months.
