Multitude Bank has reported a profit before tax of €11.7 million for the first six months of 2026, up from €9.5 million in the corresponding period of 2025.

Profit for the period reached €11.4 million, compared with €9 million a year earlier, according to the bank’s condensed interim financial statements for the six months ended 30th June 2026.

Total operating income increased to €86.9 million from €80.2 million during the same period last year, supported by higher net interest income.

Net interest income rose to €82.7 million from €76.1 million, representing an increase of 9 per cent year-on-year. The bank said the improvement was generated by a 6 per cent increase in gross interest income, which reached €103.2 million, alongside a 5 per cent decline in interest expenses to €20.6 million.

Meanwhile, net fee and commission income declined to €3.6 million from €4.2 million in the corresponding period of 2025.

Operating expenses also increased during the period. Other operating costs amounted to €38.2 million, compared with €32.2 million a year earlier, while employee compensation and benefits rose to €5.8 million from €4.9 million. The bank recorded net impairment losses of €30.6 million, down from €33 million in the first half of 2025.

Multitude Bank's total assets stood at €1.43 billion at the end of June, compared with €1.30 billion at the end of December 2025. Loans and advances to customers increased to €712.1 million from €672.2 million, while debt investments rose to €283.4 million from €258.3 million.

Amounts owed to customers also increased, reaching almost €1.16 billion at the end of June from €1.03 billion at the end of 2025. Total equity rose to €196.3 million from €185.8 million over the same period.

During the first six months of the year, the group continued to offer unsecured lending and credit products to customers, originated new corporate exposures and further expanded its investment in securitisation portfolios.

As at 30th June 2026, the group's debt investments comprised securitisation portfolio investments of €200.1 million and investments in bonds amounting to €83.2 million.

The period also saw Multitude International Services Oy, a fellow group entity ultimately controlled by Multitude AG, transfer 8.9 million shares in Bhawana Capital Private Limited to Multitude Bank. Following the transaction, the bank became the sole owner of Bhawana, an Indian non-banking financial company acquired by the wider Multitude Group in March 2026.

On its capital position, Multitude Bank reported a Total Capital Ratio of 23.27 per cent and a Common Equity Tier 1 ratio of 14.49 per cent as at the end of June.

The interim financial statements are unaudited but were independently reviewed by PwC, the bank's registered auditors.