UmweltBank AG

Latest Results (23.07.2026):

UmweltBank AG — reporting on the 2024 full year (FY 2024, reporting period ended 31 Dec 2024). The bank completed a year of transformation: FY 2024 produced earnings before taxes of €‑8.5 million but, after a planned reversal of contingency reserves for general banking risks, delivered a small positive net result of about €0.7 million. The year saw strong business growth (new gross lending ≈ €250m, private deposits up ≈ €1bn), a larger interest result and heavy one‑off transformation costs that pushed administrative expenses higher.

Bottom line

FY 2024: earnings before taxes €‑8.5m; reported positive net result ≈ €0.7m after reversing contingency reserves. No dividend is planned for 2024; management aims to resume a (small) dividend for 2025 depending on performance.

Revenue drivers

Interest result rose to €45.0m (2023: €41.1m). Financial result improved to about €13m. Commission and net trading income fell to ≈ €5.5m (2023: €9.1m), mainly due to weaker securities commissions.

Costs and personnel

Personnel expenses were €26.1m (≈€25.6m prior year). Administrative expenses jumped to €40.6m (2023: €31.5m), substantially affected by one‑off transformation costs. End‑of‑year staffing: ≈336 FTE (≈376 employees total).

Business volume and balance sheet

Total assets ≈ €6.2bn. Lending portfolio / lending volume ≈ €3.5bn (stated €3,457m as of 31.12.2024). New gross lending in 2024 ≈ €250m; private customer deposits increased by about €1bn.

Portfolio mix and impact

Loan book composition: ~60% renewable energy, ~40% sustainable real estate. UmweltBank reports ~1.3 million tonnes CO₂ avoided in 2024 from financed projects.

Capital markets & share data

Year‑end share price €6.22; market capitalisation ≈ €224m; shares outstanding 36,116,946. Around 85% free float; GLS Gemeinschaftsbank eG ≈15% holder. No dividend for 2024.

Transformation actions taken

Bank accelerated divestment of participating interests (12 sold in 2024: 4 real estate, 8 renewable energy) with goal to divest majority by 2026. Implemented a new core banking system, regulatory strengthening, and hires to improve scalability and compliance.

Guidance and targets

Management expects FY 2025 earnings before taxes of €5m–€10m and anticipates reduced administrative expenses and higher interest result. Medium‑term targets to 2028 include annual new lending of €650m, 500,000 customers, a cost‑income ratio ≤60% and return on equity before tax ≥12%.