Banks, Estonia, Financial Services, Internet, Technology

International Internet Magazine. Baltic States news & analytics Tuesday, 07.07.2026, 11:55

Inbank makes EUR 1.2 mln of profit in 2015

BC, Tallinn, 01.04.2016.Print version
Inbank, the financial services company in Estonia that started operations in April 2015 and that has evolved from the Cofi financial technology startup established in 2011, earned a profit of 1.2 million euros in its first year of operation, informs LETA/BNS.

By the end of its first year, deposits totaled nearly 30 million euros and the company had increased its investment portfolio by 143%.

 

"Last year's most important events were getting a banking permit, launching operations in Latvia and more than doubling our financing portfolio," CEO Jan Andresoo said in a press release.

 

By the end of the year the company's balance sheet total was 43.3 million euros, loan portfolio 34.8 million euros, volume of deposits 29.7 million euros, net profit 1.2 million euros and equity capital 8.2 million euros.

 

Inbank is a successor of Cofi, a provider of instalment sale services that developed into the market leader in Estonia in 2011-2015. The Financial Supervision Authority granted Inbank a credit institution license on April 10.





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