Multitude AG publishes Q1 results: Continued execution and portfolio growth
Zug, 21 May 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 publishes its Q1 2026 results for the period ending 31 March 2026.
Multitude Group Results
Group revenue stood at EUR 61.6 million compared to EUR 66.8 million in Q1 2025, reflecting changes to product offering and portfolio composition. On a quarterly run-rate basis, revenue remained broadly stable (Q4 2025: EUR 61.0 million; Q3 2025: EUR 62.5 million). Group fee and commission income increased significantly by EUR 2.5 million year-on-year to EUR 4.9 million, driven mainly by Consumer Banking.
Net loans and investments expanded by 23.5% to EUR 971.6 million (Q1 2025: EUR 786,541 million). Total assets increased by 14.8% to EUR 1,590.7 million (31 December 2025: EUR 1,385.6 million). Asset quality continued to improve in Q1, with impairments decreasing by 18.8% to EUR 18.0m (Q1 2025: 22.2 million)
Customer deposits, the Group’s primary funding source, increased by 15.4% to EUR 1,193.7 million. Group equity increased by 19.8% to EUR 249.1 million, resulting in a net equity ratio of 29.4%.
Net profit in Q1 2026 amounted to EUR 4.4 million. The Company remains on track to achieve its EUR 30 million net profit capital markets guidance for 2026 and confirms its long-term target of 20% annual net profit growth in 2027 and 2028.
“Revenue and net profit development in the first quarter was in line with our expectations and reflects the planned phasing of the year. We remain on track to achieve our 2026 guidance, supported by disciplined execution of our strategy, improving asset quality, increasing recurring fee income, and continued focus on degressive cost development as the platform scales. We also expect stronger performance in the second half of the year,” said Antti Kumpulainen, Multitude’s CEO.
Results of the Business Units
Consumer Banking (Ferratum Brand)
Revenue amounted to EUR 45.3 million (Q1 2025: EUR 53.8 million), with interest income and EBT reflecting changes to portfolio composition and product offering in line with asset quality improvement initiatives. Fee income increased significantly to EUR 4.3 million (Q1 2025: EUR 1.9 million). Asset quality continued to improve, with impairments decreasing by 21.6% year-on-year. Net loans and investments increased by 7.6% to EUR 542.3 million.
SME Banking (CapitalBox Brand)
Revenue increased by 2.8%, reaching EUR 8.8 million (Q1 2025: EUR 8.6 million), while net loans and investments increased significantly by 19.0% to EUR 171.6 million. While portfolio growth accelerated beyond FY2025 levels in Q1, the revenue contribution from new volumes is expected to materialise progressively over time. EBT performance reflected continued investment in growth and portfolio expansion, including higher provisioning. The impairments to net loans and investments ratio remained stable.
Wholesale Banking (Multitude Bank Brand)
Wholesale Banking continued to scale strongly in both revenue and profitability. Revenue increased by 69.3% to EUR 7.5 million, while EBT rose from EUR 0.3 million to EUR 1.5 million, reflecting the scalability of the business unit. Net loans and investments continued to expand strongly to EUR 258 million, supported by solid execution on the deal pipeline.
Q1 2026 Results Earnings call: Webcast and telephone conference to be held today at 10:00 CEST
Registration link:https://multitude.events.inderes.com/q1-2026
Telephone conference: https://events.inderes.com/multitude/q1-2026/dial-in
Contact:
Adam Hansson Tönning
Head of IR and Treasury
Phone: +46733583171
E-Mail: adam.tonning@multitude.com
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
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