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's activity report 2022

AS Inbank Finance was established in 2021 and was created based on the assets of AS Inbank (parent company), who made both monetary and non-monetary contributions to the company.

AS Inbank Finance offers consumer financing solutions in Estonia through a comprehensive network of merchant partners. In collaboration with merchants, we work to ensure the best sales tools for our partners and the smoothest shopping experience for customers. The most important thing in the field of consumer finance is the good availability of the service. Therefore, we have taken financing out of banks and into sales outlets - where customers make their daily purchases. We offer smooth financing solutions for merchants of all shapes and sizes, whether it's a regular store, platform, or new age business model. We finance all kinds of purchases from sneakers to solar panels, and the customer can use the service exactly when and where they need it. We have made financing an integral part of the product or service and help our more than 240 cooperation partners' businesses grow.

By the end of 2022, AS Inbank Finance had a total of nearly 86 thousand active customer contracts in its portfolio.

Thanks to strong sales, AS Inbank Finance's loan portfolio issued to households grew to 193.5 million euros by the end of 2022. Car financing made up 62% of the loan portfolio, small loans 22%, and installment loans 16%. In 2022, Inbank Finance

Took over the loans given to Inbank's subsidiaries from Inbank.

As of the end of 2022, the company employed 40 employees, which is 4 employees more than in 2021.

Financial Results

Although 2022 was a successful year for AS Inbank Finance, the environment around us was anything but ordinary. When the pandemic eased at the beginning of 2022, a tragic war broke out in Ukraine. The direct impact of the war on our business was mainly limited to the immediate consequences of the initial attack. However, the inflationary pressure that had already started from the loose monetary and fiscal policy during the pandemic, and the war further disrupted energy supply, caused unprecedented inflation in our region. As a result, we saw a sharp rise in interest rates, which also directly affected the pricing of our products on the market.

Although the external environment posed quite a few challenges to the company in 2022, we ended the financial year with a profit of 7.04 million euros. The return on equity was 17.6%. The trend of the last four quarters shows that the company's business model is strategically strong and supports the plans for 2023 in terms of rapid growth and a higher quality risk profile.

In addition to new sales and portfolio growth, successful credit risk management is of critical importance to AS Inbank Finance's business model, for which policies and methods built by AS Inbank are used. Despite high inflation and low consumer confidence, our credit portfolio has remained strong. Our loan impairment cost increased year on year