Q1 reflects the Group’s shift to a focus on online consumer lending
Early repayment of EUR 2026 bonds in April strengthens the Group’s capital structure
Strong liquidity supports future growth while providing financial flexibility
Operational highlights
• TBI Bank sale in February 2026 marks a key operational milestone for the Group and enhances its financial flexibility.
• Online loan issuance totalled €112.4 million for the Period, down 12% year-on-year, reflecting a more selective and disciplined lending approach.
• Early-stage launch of operations in South Africa and Uzbekistan in Q1 2026.
Financial Highlights
• The following highlights relate to continuing operations. TBI Bank is presented separately as discontinued operations.
• Adjusted EBITDA for the Period amounted to €13.7 million, with a margin of 33%. The interest coverage ratio as of the date of this report is 3.5x.
• Group’s net profit from continuing operations on a proforma basis amounted to €2.9 million for the Period.
• Interest income amounted to €41.7 million in the Period, compared with €47.0 million in the prior year period.
• Cost to income ratio for the Period improved to 33.5% compared with 35.0% in the prior year period.
• Net impairment charges of €18.0 million in the Period, down 10% year-on-year, reflecting a focus on portfolio quality.
• Net receivables amounted to €141.0 million as of 31 March 2026, reflecting the Group’s shift to an online-only business model.
• Gross NPL ratio at 11.0% as of 31 March 2026, indicating stable asset quality.
Liquidity and funding
• Strong liquidity position, with over €250 million of cash at the end of the Period.
• Early redemption of EUR 2026 bonds completed in April 2026, reducing near-term maturities.
• Dividends of €26 million (2024) and €11 million (2025) declared in March and May, respectively.
Kieran Donnelly, CEO of 4finance, commented:
“Q1 2026 marks an important step for the Group following the completion of TBI Bank sale in February, increasing our financial flexibility and sharpening our strategic focus on online consumer lending.
“With a simplified balance sheet and greater financial capacity, we are well positioned to pursue our growth priorities. The early repayment of our EUR 2026 bonds in April reflects our proactive management of the Group’s funding profile.
“We remain focused on operational efficiency, credit discipline and delivering sustainable growth.”
