"We are happy to see that our positive business trends continued in the first half of the year. We maintained a healthy growth of new lending, we are recording continuous increase in the use of our digital solutions, and through the active role as a lead-manager of corporate securities issuances we are making a significant contribution to the development of the Croatian capital market,” said Christoph Schoefboeck, CEO of Erste&Steiermärkische Bank d.d. (“the Bank”), commenting on the operations in the first six months of 2025: “In favourable macroeconomic conditions, it is necessary to continue to strengthen market mechanisms, increase the level of investment and legal certainty and implement clear and simple regulations. Croatia’s financial system is extremely strong, very well capitalised and highly liquid, ready to support all healthy and quality projects in the real and public sector. The resulting comparative advantage serves as a very strong impulse to build the position of Croatia not only as a financial hub, but also as an overall economic leader of the region.”
HIGHLIGHTS
According to the unaudited consolidated financial statement, EBC Group's[1] net profit after minority interests in H1 2025 was EUR 135 million, up 3.1% year-on-year from EUR 131 million in the same period last year. EBC Group’s net interest income was EUR 214 million, up 0.5% from EUR 213 million in H1 2024. Net fee and commission income was EUR 68 million, up 6.3% from EUR 64 million in H1 2024. Net trading and fair value result in H1 2025 was EUR 9 million, up 12.5% compared to EUR 8 million in the same period last year.
ECB Group's total assets as at 30 June 2025 were EUR 16.9 billion, up 2.5% from EUR 16.5 billion at YE 2024. Total loans to customers as at 30 June 2025 were EUR 10,1 billion, up 4.4% from EUR 9.7 billion at YE 2024. Total deposits of ECB Group's customers as at 30 June 2025 were EUR 12.8 billion, up 1.7% from EUR 12.6 billion at YE 2024.
The result achieved in H1 2025 was positively impacted by the increased volume of new lending and payment transactions, further reduction of risk costs and the positive effect arising from the one-off tax costs from H1 2024. At the same time, the operating cost component also grew, where particularly noticeable increases concerned personnel costs as the result of continued investments in employees and other administrative costs as the result of the unit cost increase.
An increase in new lending volume was recorded in both business segments in H1 2025. In retail there was a particular increase in demand for housing loans, expectedly due to reduced interest rates and previously announced regulatory measures that came into effect on July 1st. This has resulted in a 66% increase in new lending volume of housing loans compared to the same period last year, while new cash loans recorded a slight increase of 4%. In the corporate setor, a 51% increase in new lending volume was recorded primarily driven by large corporate segment and real estate financing. At the same time, total deposits of customers recorded positive trends and stable growth, particularly in the retail segment.
According to the unaudited unconsolidated financial report, which includes the results of the Bank excluding affiliated companies, net profit in H1 2025 was EUR 128 million, up 7.6% year-on-year from EUR 119 million in the same period last year. Net interest income was up 5.5% from EUR 182 million in H1 2024 to EUR 192 million in H1 2025, while net fee and commission income was up 17.4% from EUR 46 million in H1 2024 to EUR 54 million in the same period this year, mostly as a result of the integration of the card issuing segment from Erste Card Club in the Bank. Net trading and fair value result was EUR 9 million, compared to EUR 8 million in the same period the year before.
The Bank's total assets as at 30 June 2025 were EUR 15.4 billion, up 2.2% from EUR 15.1 billion at YE 2024. Total loans to customers as at 30 June 2025 were EUR 8.9 billion, up 3.9% from EUR 8.6 billion at YE 2024. Total deposits of the Bank's clients as at 30 June 2025 were EUR 12.1 billion, up 1.7% from EUR 11.9 billion at YE 2024.
The consolidated financial statement for the EBC Group includes, in addition to Erste&Steiermärkische Bank d.d., the following affiliates: Erste Nekretnine d.o.o., Erste&Steiermärkische S-Leasing d.o.o, Erste Bank a.d., Podgorica, Erste Card Club d.o.o. and Izbor Nekretnina d.o.o.
HIGHLIGHTS
According to the unaudited consolidated financial statement, EBC Group's[1] net profit after minority interests in H1 2025 was EUR 135 million, up 3.1% year-on-year from EUR 131 million in the same period last year. EBC Group’s net interest income was EUR 214 million, up 0.5% from EUR 213 million in H1 2024. Net fee and commission income was EUR 68 million, up 6.3% from EUR 64 million in H1 2024. Net trading and fair value result in H1 2025 was EUR 9 million, up 12.5% compared to EUR 8 million in the same period last year.
ECB Group's total assets as at 30 June 2025 were EUR 16.9 billion, up 2.5% from EUR 16.5 billion at YE 2024. Total loans to customers as at 30 June 2025 were EUR 10,1 billion, up 4.4% from EUR 9.7 billion at YE 2024. Total deposits of ECB Group's customers as at 30 June 2025 were EUR 12.8 billion, up 1.7% from EUR 12.6 billion at YE 2024.
The result achieved in H1 2025 was positively impacted by the increased volume of new lending and payment transactions, further reduction of risk costs and the positive effect arising from the one-off tax costs from H1 2024. At the same time, the operating cost component also grew, where particularly noticeable increases concerned personnel costs as the result of continued investments in employees and other administrative costs as the result of the unit cost increase.
An increase in new lending volume was recorded in both business segments in H1 2025. In retail there was a particular increase in demand for housing loans, expectedly due to reduced interest rates and previously announced regulatory measures that came into effect on July 1st. This has resulted in a 66% increase in new lending volume of housing loans compared to the same period last year, while new cash loans recorded a slight increase of 4%. In the corporate setor, a 51% increase in new lending volume was recorded primarily driven by large corporate segment and real estate financing. At the same time, total deposits of customers recorded positive trends and stable growth, particularly in the retail segment.
According to the unaudited unconsolidated financial report, which includes the results of the Bank excluding affiliated companies, net profit in H1 2025 was EUR 128 million, up 7.6% year-on-year from EUR 119 million in the same period last year. Net interest income was up 5.5% from EUR 182 million in H1 2024 to EUR 192 million in H1 2025, while net fee and commission income was up 17.4% from EUR 46 million in H1 2024 to EUR 54 million in the same period this year, mostly as a result of the integration of the card issuing segment from Erste Card Club in the Bank. Net trading and fair value result was EUR 9 million, compared to EUR 8 million in the same period the year before.
The Bank's total assets as at 30 June 2025 were EUR 15.4 billion, up 2.2% from EUR 15.1 billion at YE 2024. Total loans to customers as at 30 June 2025 were EUR 8.9 billion, up 3.9% from EUR 8.6 billion at YE 2024. Total deposits of the Bank's clients as at 30 June 2025 were EUR 12.1 billion, up 1.7% from EUR 11.9 billion at YE 2024.
The consolidated financial statement for the EBC Group includes, in addition to Erste&Steiermärkische Bank d.d., the following affiliates: Erste Nekretnine d.o.o., Erste&Steiermärkische S-Leasing d.o.o, Erste Bank a.d., Podgorica, Erste Card Club d.o.o. and Izbor Nekretnina d.o.o.
CONTINIOUS GROWTH OF DIGITAL CHANNELS
The Bank’s digital solutions maintained a continued and stable growth trend. As at 30 June 2025, George online banking had a total of more than 573,000 active users, up 4% from 550,000 active users at YE 2024. Total transaction volume of EUR 3.9 billion in H1 2025 was up 16% compared to the same period last year. The KEKS Pay app reached the number of 544,000 users as at 30 June 2025, up almost 9% from 500,000 at YE 2024. KEKS Pay’s total transaction volume of EUR 138 million in H1 2025 was up 33% compared to the same period last year, when it amounted to EUR 103 million.
CONTINIOUS GROWTH OF DIGITAL CHANNELS
The Bank’s digital solutions maintained a continued and stable growth trend. As at 30 June 2025, George online banking had a total of more than 573,000 active users, up 4% from 550,000 active users at YE 2024. Total transaction volume of EUR 3.9 billion in H1 2025 was up 16% compared to the same period last year. The KEKS Pay app reached the number of 544,000 users as at 30 June 2025, up almost 9% from 500,000 at YE 2024. KEKS Pay’s total transaction volume of EUR 138 million in H1 2025 was up 33% compared to the same period last year, when it amounted to EUR 103 million.
STABLE TREND IN NPLs
The stable trend in NPLs (non-performing loans and partially performing loans) continued in the first half of 2025. As at 30 June 2025, the NPL ratio at consolidated EBC Group level was 2.9% (3.1% as at 31 December 2024). NPL ratio at Bank level as at 30 June 2025 was 3.0% (3.1% as at 31 December 2024).
Statement of Profit and Loss 1 January – 30 June 2025
Statement of Financial Position as at 30 June 2025