For investors
Contribute to the development of Estonian banking here and in Europe

Inbank is a specialised digital bank that focuses on hire-purchase and consumer financing. Inbank operates in Estonia, Latvia, Lithuania and Poland, and we also collect deposits from Austria and Germany. Inbank's purpose is to offer best services in its field and to grow on the European market with a focused product range.

The Estonian banking market is profitable, well capitalised and open to new digital solutions. As a product-based bank we see sustainable growth primarily outside of Estonia. Inbank has the advantage of operating in profitable product lines and the ability to develop products suitable for customers and merchants outside traditional banking channels.

Priit Põldoja

Founder and Chairman of the Supervisory Board of Inbank

Facts about Inbank

Inbank number of contracts

Active customer contracts: 445 963

Inbank number of employees

Number of employees: 158

Number of partners

Number of partners: 2600

Inbank profit

Profit in 2018: 9,3 EURm

Data as of 31.12.2018.

Key financial indicators

EURm 2014 2015 2016 2017 2018
Loan portfolio 14 35 65 93 226
Deposit portfolio 0 30 65 95 240
Total assets 15 42 85 126 318
Owner’s equity 6 8 12 22 36
Net interest income 1,9 3,4 8,4 11,0 19,9
Net fee and commission income 0,3 0,0 0,1 -0,1 -0,4
Total net income 2,4 4,0 9,2 11,7 21,4
Operating expenses 1,0 2,6 4,2 6,7 10,6
Operating profit 1,4 1,5 5,0 4,9 10,7
Impairment losses on loans 0,3 1,0 3,2 3,5 2,7
Total comprehensive income 1,3 0,9 2,6 7,5 9,3
Return on equity 43,1% 14,5% 26,6% 44,1% 31,9%
Net interest margin 16,7% 12,3% 13,7% 11,1% 9,5%
Impairment losses to loan portfolio 2,4% 4,0% 6,4% 4,5% 1,7%
Cost/income ratio 41,1% 63,2% 45,7% 57,8% 49,9%
Comprehensive income (EURm)
Inbank profit
Loan and deposit portfolio development (EURm)

Loan portfolio Deposits & senior debt

Inbank portfolio

Inbank’s story

Inbank stems from the financial technology company Cofi that was established in 2011 and launched an innovative hire-purchase solution on the market. Cofi rose from a start-up to the market leader of hire-purchases from 2011-2015.

In 2015 the Financial Supervision Authority issued a banking licence to Cofi and we started using the name Inbank. The launch campaign of the bank was very successful and we collected 11 million euros worth of deposits in the first two days alone.

Inbank has launched several new financial services after receiving the banking licence, such as small loan, car loan, auto24 loan, auto24 leasing and full service leasing for business customers.

Inbank has been listed on the stock exchange since 2016. In September 2016 we issued bonds to support our rapid international growth and they have been included in the Baltic Bonds List of the Nasdaq Tallinn Stock Exchange since 3 October 2016.

Inbank group

Inbank group Inbank group

Bond issue of 2016

Inbank issued bonds in September 2016 in order to strengthen the company’s capital structure. We wanted to use this to improve our sales and market position, support further growth and expansion to new target markets, and secure a safe capital buffer for group companies.

Investors subscribed for 11.089 million euros worth of bonds in total and Inbank issued bonds for the amount of 6.5 million euros. The bonds of Inbank were listed on the Tallinn Stock Exchange on 3 October 2016.

Investors subscribed for 11.089 million euros worth of Inbank’s bonds in total. Due to oversubscription, Inbank used the opportunity to increase the volume of the issue from the initial 5 million euros to 6.5 million euros. 698 investors participated in the subscription and the average amount of subscription was 15,253.1 euros.

60% of investors received the quantity of bonds they had requested and 40% of investors received fewer bonds than subscribed for due oversubscription. According to the prospectus, bonds in the requested amounts were given to the existing bond investors of Inbank, which comprised 865,000 euros or 13.3% of the total value of the issue.

As for other investors, Inbank fully satisfied all subscriptions up to the amount of 5,000 euros. 41.58% of the amount that exceeded 5,000 euros was additionally distributed to subscriptions that exceeded 5,000 euros. The quantity of the bonds distributed to investors was rounded up to the first whole number.

Name of security Subordinated bond of Inbank, 28.09.2026
Short name of security INBB070026A
Regulated market Nasdaq Tallinn Stock Exchange, Baltic Bond List
Listing date 03.10.2016
ISIN EE3300110964
Nominal value 1 000 EUR
Number of securities 6503
Volume of issue 6 503 000 EUR
Period 28.09.2016 - 28.09.2026
Interest payments Quarterly
Interest rate 7% per year

The bonds of Inbank are freely traded on the Tallinn Stock Exchange. In order to buy the bonds, it is necessary to have a securities account, which can be opened in all larger banks in Estonia. A securities account cannot be opened in Inbank.

It will be possible to sell the bonds at any time if there is demand for them, but a transaction price cannot be guaranteed. A more detailed overview of the risks related to the bonds is given in the bond prospectus and the abridged Estonian version of the prospectus.

Interest on the bonds is paid once a quarter on the following dates: 28 March, 28 June, 28 September and 28 December.

Inbank will withhold 20% in income tax on the interest payments. If you purchased the bonds via an investment account, please let Inbank know that you would like to receive the interest payments in full.

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Contact

If you have any questions about investor relations, please contact Priit Põldoja, founder and Chairman of the Supervisory Board of Inbank, or send an e-mail to investor@inbank.ee.

Contact us

Priit Põldoja

Founder and Chairman of the Supervisory Board of Inbank