Multitude Group Reports Strong Growth and CEO Appointment

Multitude Group, a European FinTech company, has announced significant growth in the first nine months of 2024, alongside the appointment of Antti Kumpulainen as CEO, effective January 1, 2025. The company reported a 42.2% increase in EBIT to EUR 47.2 million, with a 15.1% rise in revenue to EUR 193.9 million. This growth is bolstered by increased interest income and a decline in impairment losses.

The Wholesale Banking division experienced a substantial lending volume increase, while Consumer and SME Banking also saw revenue gains, although the latter faced expansion-related costs. Multitude's strategic acquisition of a stake in Lea Bank ASA supports its international expansion. The company remains on course to achieve a 50% EBIT increase for 2024.