Multitude SE Continues Strong Growth in 2024: EBIT Increases 34.5% to EUR 28.3 Million During H1 2024

Multitude SE reported significant growth in the first half of 2024. EBIT surged by 34.5% to EUR 28.3 million compared to the first half of 2023. Group revenue increased by 17% to EUR 128.8 million.

All three business units—Consumer Banking, SME Banking, and Wholesale Banking—recorded double-digit revenue growth. Net AR grew by 25.2% to EUR 697.4 million, while net interest income rose by 8.8% to EUR 110.1 million. Profit for the period saw a slight decline to EUR 7.3 million due to one-off bond-related expenses.

Focus on risk management has paid off, with the loan impairment ratio at 3.8%. Company assets remained stable at EUR 986.8 million. A new bond issuance of EUR 80 million was successfully completed.

CEO Jorma Jokela confirms the EBIT forecast of EUR 67.5 million for 2024 and sees growth potential in all business units. The strategic focus remains on financial stability and risk reduction.