Malta-listed Multitude Bank plc has reported a pre-tax profit of €9.5 million for the first half of 2025, marking a 53 per cent increase compared to the €6.2 million recorded in the same period last year. Profit after tax therefore rose to €9 million, up from €6.5 million in H1 2024.

The bank’s net interest income stood at €76.1 million, representing a six per cent decline year-on-year.

However, this was offset by strong growth in other areas, including net fee and commission income, which rose sharply to €4.2 million, an increase of €3.9 million compared to last year.

Operating income remained stable at €80.2 million for the six months ending 30 June 2025. Meanwhile, operating expenditure increased marginally by one per cent to €37.7 million, driven mainly by higher personnel costs and increased contributions to the Depositor Compensation Scheme.

The bank also reported a notable reduction in net impairment losses, which fell to €33 million from €37.3 million in the same period last year.

Management attributed this improvement to proactive measures aimed at reducing credit losses, as well as more favourable macroeconomic conditions in 2025 that supported credit quality across certain portfolios.

During the first half of the year, Multitude Bank served customers in 13 countries, including Estonia, Latvia and Denmark. To support its lending activities, the bank continues to offer savings and term deposit products in Germany, Sweden and Malta.

On the investment side, the bank’s securitisation portfolio amounted to €171.6 million, while bond investments totalled €123.1 million during the reporting period.

Multitude Bank plc is a subsidiary of Multitude AG, the international financial group formerly known as Ferratum. The group rebranded under the Multitude name in 2022 as part of a wider restructuring.