BTV Vier Länder Bank (BTS) Q4 2024 earnings summary

Executive summary

• 2024 marked a record year with the highest result in the 120-year history, driven by growth in all business segments and surpassing €20 billion in client assets for the first time.

• The bank maintained its strategy of regional lending and deposit gathering, emphasizing stability, security, and independence.

• The legal dispute with UniCredit was fully resolved, confirming the legality of the bank's structure and actions.

• The supervisory board and management focused on risk management, strategy 2030, and adapting to changing interest rate and real estate market conditions.

• The annual financial statements received an unqualified audit opinion.

Financial highlights

• Net interest income rose by 5.7% to €266.2m year-over-year; net commission income increased by 5.9% to €61.3m.

• Pre-tax profit grew by 15.5% to €264.9m; consolidated net profit up 14.1% to €223.7m year-over-year.

• Total assets increased by 3.6% to €15.4bn; customer loans up 2.1% to €8.8bn; primary funds up 7.6% to €11.5bn.

• Equity rose by 8.9% to €2.49bn; CET1 ratio improved to 15.6% (+0.6pp); cost-income ratio improved to 46.5%.

• EPS reached €5.87 (up from €5.16); proposed dividend €0.40 plus €0.20 special dividend per share.

Outlook and guidance

• 2025 is expected to see weak global growth, with geopolitical risks and subdued industrial and consumer demand in Europe.

• Inflation is expected to decline, with further ECB rate cuts anticipated.

• The bank plans moderate growth in customer business, with a lower net interest income and pre-tax profit (forecast €150–170m) due to lower one-off gains and higher costs.