Multitude AG publishes 9M 2026 results: Portfolio surpasses EUR 1 billion as asset quality improves
- Revenue increased to EUR 197.1 million
- Net loans and investments grew to EUR 1,031.2 million
- Fee and commission income rose to EUR 24.5 million, representing 12.4% of revenue
- Impairment losses decreased by 16.8% year-on-year to EUR 51.2 million, reflecting continued improvement in asset quality
- FY2026 net profit guidance and the Group’s 2027 and 2028 growth outlook confirmed
Zug, 12 November 2026 – Multitude AG, a listed European FinTech company offering digital lending and online banking services to consumers, SMEs, and institutional clients (“Multitude”, the “Company” or the “Group”), today published its results for the nine-month period ended 30 September 2026.
Multitude Group Results
Group revenue slightly increased to EUR 197.1 million (9M 2025: EUR 195.9 million). Interest income decreased to EUR 172.7 million (9M 2025: EUR 186.6 million), reflecting product and portfolio changes as the Group continued to prioritise sustainable, profitable growth and asset quality. The decrease in interest income was offset by fee and commission income, which more than doubled to EUR 24.5 million (9M 2025: EUR 9.3 million), reflecting a more diversified revenue mix and stronger monetisation of fee-generating activities. Growth was driven by loan servicing and increased brokerage income following the acquisition of Sortter Oy.
Portfolio growth was accompanied by further improvement in asset quality: net loans and investments surpassed EUR 1.0 billion on 30 September 2026, while impairment losses decreased by 16.8% to EUR 51.2 million (9M 2025: EUR 61.5 million), reflecting continued portfolio optimisation and enhanced credit risk management.
Customer deposits totalled EUR 1,101.7 million on 30 September 2026, remaining the Group’s principal source of funding. Total assets stood at EUR 1,487.2 million and Group equity at EUR 231.7 million.
Net profit amounted to EUR 22.3 million (9M 2025: EUR 20.3 million), in line with the expected phasing through FY2026. During the financial year, net profit increased from EUR 4.4 million in Q1 to EUR 8.7 million in Q2 and an outstanding EUR 9.2 million in Q3.
“In the first nine months, we continued to grow the Group’s portfolio while further improving asset quality. Fee and commission income also made a larger contribution to revenue, supporting our diversification. With disciplined execution across our business units, we remain on track to deliver our FY2026 net profit guidance,” said Antti Kumpulainen, Multitude’s CEO.
Results of the Business Units
Consumer Banking (Ferratum Brand)
Interest income decreased to EUR 124.1 million (9M 2025: EUR 146.3 million) due to changes to the portfolio composition and product offering. While interest income remains below prior-year levels, it grew by 0.5% in Q2 compared to Q1 and by 1.9% in Q3 compared to Q2. Fee and commission income almost tripled to EUR 22.4 million (9M 2025: EUR 7.7 million), reflecting continued revenue diversification and increased monetisation through loan servicing and brokerage activities, including the contribution from Sortter. Impairment losses fell by 19.0% to EUR 42.2 million, supported by asset quality initiatives and debt portfolio sales. The loan portfolio grew by 9.1% to EUR 564.3 million. EBT was EUR 24.7 million (9M 2025: EUR 24.2 million).
SME Banking (CapitalBox Brand)
Net loans and investments grew by 5.7% year-on-year, with secured lending representing 30% of the portfolio. Impairment losses stood at EUR 7.7 million (9M 2025: EUR 7.9 million). In the nine-month period, the portfolio continued to grow, coupled with disciplined credit risk management, and was accompanied by debt portfolio sales. CapitalBox reported a loss before tax of EUR 3.9 million in 9M 2026, compared with a loss of EUR 2.7 million in 9M 2025. Q3 2026 EBT improved to negative EUR 0.4 million.
Wholesale Banking (Multitude Bank Brand)
Net loans and investments reached EUR 296.8 million, supported by continued execution on the secured debt pipeline. Revenue stood at EUR 24.0 million (9M 2025: EUR 15.8 million) and EBT came in at EUR 5.1 million (9M 2025: EUR 1.8 million), reflecting the continued scaling of the business unit.
Outlook
The Group remains on track to achieve net profit of EUR 30 million in FY2026 and continues to target annual net profit growth of 20% in both 2027 and 2028.
9M 2026 Results Earnings call:
A webcast and telephone conference will be held by the Company today, 12 November 2026, at 10:00 CET.
Registration link: https://multitude.events.inderes.com/q3-2026
Telephone conference: https://events.inderes.com/multitude/q3-2026/dial-in
Contact:
Adam Hansson Tönning
Head of IR and Treasury
Phone: +46733583171
E-Mail: [email protected]
About Multitude AG:
Multitude is a listed European FinTech company, offering digital lending and online banking services to consumers, SMEs, and institutional clients, overlooked by traditional banks. The services are provided through three independent business units, which are served by the Multitude Growth Platform: Consumer Banking (Ferratum), SME Banking (CapitalBox), and Wholesale Banking (Multitude Bank). Multitude Group employs over 700 people, offering services in 17 European countries. In 2025, the Group achieved a revenue of 257 million euros. Multitude was founded in Finland in 2005, is registered in Switzerland and is listed on the Prime Standard segment of the Frankfurt Stock Exchange under the symbol 'MULT' (WKN: A40VJN, ISIN: CH1398992755).
www.multitude.com
