BTV Vier Länder Bank (BTS) Q1 2025 earnings summary

Executive summary

• Net profit before tax for Q1 2025 was €70.1m, down €18.0m year-over-year, while net profit after tax was €58.0m, exceeding the quarterly budget.

• The balance sheet remained stable at €15.3bn, with customer loans up €119m to €8.9bn and equity up €61m to €2.5bn.

Financial highlights

• Net interest income fell 10.5% year-over-year to €60.9m; risk provisions in lending dropped 86.4% to €1.2m.

• Net fee and commission income rose 11.7% to €16.8m, mainly from securities business.

• Operating expenses increased 11.3% to €66.5m, driven by higher personnel and administrative costs.

• Net profit after tax decreased 19.6% to €58.0m; cost-income ratio worsened to 48.8%.

• Return on equity after tax was 9.3% (down from 12.5%); EPS annualized at €5.41.

Outlook and guidance

• Management expects full-year pre-tax profit between €150m and €170m, citing ongoing geopolitical and economic uncertainties, especially regarding credit risk.