Sharp rise in Iute Group's first-half earnings reported
Iute Group, a leading fintech company based in Estonia, has reported impressive financial results for the first half of 2025, showcasing robust growth and strategic progress in its digital banking operations across Southeast Europe.
According to CEO Tarmo Sild, the company is on track to meet its full-year revenue and net profit targets, with revenue rising by 10.9% year-on-year to €59.5 million and net profit growing by 63% to €6.7 million. The customer base remained stable at 260,000 active customers, with revenue per customer increasing by 4.8% to €452.
Iute Group continues to pursue its long-term vision of becoming a fully digital bank with the most widely used super app in each of its operating markets. The group is achieving this by enhancing efficiency and unlocking new revenue streams through consistent digitalization and automation.
One of the key areas of focus for Iute Group has been insurance. In the first half of 2025, the company significantly expanded its insurance offering, with the start of partnerships with Allianz and GrECo. Revenues from insurance intermediation nearly doubled year-over-year for Iute Group.
On the regulatory front, the Central Bank of the Republic of North Macedonia granted a license to IutePay as an electronic money institution in July, enabling the company to provide digital payment solutions across the country. Fitch Ratings affirmed Iute Group’s long-term issuer credit rating at B- with a Stable Outlook and assigned the same rating to the new 2025/2030 bonds in July.
The company finances its loan portfolios with equity, deposits, and secured bonds on the Regulated Market of the Frankfurt Stock Exchange and the Nasdaq Baltic Main List. In June, Iute Group completed early refinancing of its 2021/2026 Eurobond. The group also issued new senior secured bonds maturing in 2030 with a total volume of 140 million euros, exceeding the initial target of 125 million euros.
In terms of expansion, Iute Group has extended its digital payment services in Southeast Europe, including obtaining an Electronic Money Institution (EMI) license in North Macedonia, facilitating further growth in digital finance services.
To summarize in key points:
| Aspect | Current Status & Future Plans | |--------------------|------------------------------------------------------------------------| | Revenue | €59.5 million H1 2025, +10.9% YoY growth | | Net Profit | €6.7 million H1 2025, +63% YoY growth | | Customer Base | Stable at 260,000 active customers; revenue per customer +4.8% | | Digitalization | Pursuing fully digital bank status with super app strategy; ongoing automation and efficiency improvements | | Insurance | New partnerships with Allianz and GrECo in Albania expand offerings | | Expansion | Digital payment service expansion including EMI license in North Macedonia | | Credit Rating | Fitch B- rating with stable outlook; bonds listed on Frankfurt and Nasdaq Baltic exchanges |
Overall, Iute Group is strengthening its financial position while enhancing its digital and insurance service offerings and expanding geographically within Southeast Europe.
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