CrediaBank (CREDIA) Q1 2026 earnings summary

Executive summary

• Achieved record growth in Q1 2026 across all key financial metrics, including net credit expansion up 97% to €459 million, gross loans up 40% to €4.9 billion, and deposits up 14% to over €6.8 billion, outpacing sector growth.

• Net interest income rose 28% year-on-year to €46.8 million, net fee income up 55% to €11 million, and recurring pre-provision income reached €24.1 million (+26% YoY).

• Recurring net profit increased 17% year-on-year to €13 million; reported net profit at €7.8 million, up from €0.1 million in Q1 2025.

• Completed a €300 million share capital increase, oversubscribed nearly 4x, strengthening CET1 to 16.6% and TCR to 22.4%.

• Advanced digital transformation and operational excellence initiatives, including branch modernization and the Aurora program.

Financial highlights

• Net interest income grew 28% YoY to €46.8 million; net fee income surged 55% YoY to €11 million, now 17.9% of recurring operating income.

• Recurring operating income rose 12% YoY to €61.2 million; recurring pre-provision income reached €24.1 million (+26% YoY).

• Cost-to-income ratio improved to 60.7% (down 448bps YoY); recurring operating expenses fell 4% QoQ.

• Group deposits exceeded €6.8 billion (+14% YoY), with loan-to-deposit ratio at 72% and LCR at 122%.

• Provisions for expected credit losses increased 48% YoY to €7.2 million due to strong loan growth.

Outlook and guidance

• No revision yet to annual net credit expansion targets despite strong H1 performance; may reconsider after H1 results.

• Integration of Malta operations (HSBC Malta) on track, with regulatory approval expected by October and legal day one set for April 2027.

• Continued focus on digital transformation, cost rationalization, and targeted M&A to drive future growth and diversification.

• Management targets further improvements in profitability, asset quality, and capital ratios.

• Ongoing pursuit of value creation through targeted partnerships and acquisitions, including Pantelakis Securities and Evropi Holdings.