UmweltBank AG

Latest Results (12.06.2026):

UmweltBank AG — results for the 4th quarter / financial year 2024 (year ended 31 December 2024): the bank reported earnings before taxes of €‑8.5 million for FY2024, but a positive net result of about €0.7 million after a planned reversal of contingency reserves for general banking risks. The year was described as a transformation year with strong business growth in deposits and new lending, but higher administrative costs and one‑off transformation expenses weighed on pre‑tax profitability.

Profit / net result

Earnings before taxes: €‑8.5 million for FY2024; after reversing contingency reserves the reported net result was about €0.7 million. No dividend is planned for 2024; the bank aims to resume paying a small dividend for the 2025 financial year depending on performance.

Revenue drivers

Interest result rose to €45.0 million (2023: €41.1 million), supported by higher deposit volumes and treasury repositioning. The financial result was about €13 million (significantly higher than prior year). Commission and net trading income fell to ≈€5.5 million (previous year: €9.1 million).

Costs

Personnel expenses were stable at €26.1 million (2023: €25.6 million). Administrative expenses increased to €40.6 million (2023: €31.5 million), driven in part by one‑off transformation costs and regulatory investments tied to the strategic realignment.

Balance sheet, lending and deposits

Total assets ≈ €6.2 billion. Lending portfolio ≈ €3.5 billion (≈60% renewable energy, ≈40% sustainable real estate). Gross new lending in 2024 was about €250 million. Private customer deposits rose by roughly €1 billion in 2024.

Customers, impact and operations

Customer base grew ~17% to about 155,000 customers. Reported avoided CO₂ in 2024: ~1.3 million tonnes. The bank sold 12 participating interests in 2024 (4 in real estate, 8 in renewables) as part of a plan to divest the majority of such interests by 2026.

Staffing and systems

Headcount: report cites around 376 employees and about 336 full‑time equivalents at year end. The bank completed migration to a new core banking system and invested in regulatory and organisational realignment during 2024.

Outlook and targets

Management expects a return to profitability in 2025 with projected earnings before taxes of €5–10 million. Medium‑term targets to 2028 include: annual new lending of €650 million, 500,000 customers, cost‑income ratio ≤60% and return on equity before tax ≥12%.

Share and capital

XETRA year‑end share price (31 Dec 2024): €6.22; market capitalisation ≈ €224 million; no dividend for 2024. The bank notes that new lending growth is currently constrained by available equity and is pursuing syndicated lending and other measures to make lending more capital‑efficient.