Magnetiq Bank continues its growth in the fintech and e-commerce sectors

In Q2 2025, Magnetiq Bank continued to strengthen its strategic focus on serving fintech and e-commerce companies, while also implementing changes to its business model.

The Bank’s core operating income in Q2 reached EUR 5.7 million. Customer deposits grew by 4.3% to EUR 137.3 million, while the loan portfolio remained stable at EUR 22.6 million. Since the beginning of the year, Magnetiq Bank has partnered with 42 new fintech companies, bringing the total number of business clients to 337 by the end of the first half-year.

Other combined income in the first half of 2025 amounted to EUR 0.13 million, reflecting significant investments in developing new products. During this period, the Bank actively worked on solutions for e-commerce merchants – an Open Banking payment solution as well as lending products such as Merchant Cash Advance and Purchase of Receivables, scheduled for launch by the end of the year. These solutions will provide merchants with greater financial flexibility, faster settlements, and modern financing tools to support both growth and adaptation to a rapidly changing business environment.

In line with its chosen strategic direction, the Bank has continued to gradually withdraw from serving individual clients, confirming its strategic focus on fintech companies – including electronic money and payment institutions, P2P platforms, crypto-asset service providers, and e-commerce merchants. This strategic decision enables the Bank to direct resources and investments toward developing new, innovative solutions for business clients.

“The results of the first half of the year confirm the trust of our clients and the effectiveness of our business model. The Bank is at the beginning of an active growth phase, and we continue to implement changes with determination, focusing resources on the business client segment and the development of new products. These will enable us to integrate even more closely with our clients’ business processes and create additional value to support their growth. Our goal is to establish Magnetiq Bank as a trusted partner for digital and innovative companies in the Baltics, Poland, and across Europe,” says Jakub Więcław, Chairman of the Management Board of Magnetiq Bank.

About Magnetiq Bank

AS Magnetiq Bank is a Latvian bank focused on serving the needs of fintechs, startups, and e-commerce service providers by offering banking infrastructure, segregated accounts, payment solutions, and lending services to support their growth. The bank’s mission is to foster the development of the startup and e-commerce sectors through innovative technology and exceptional customer service. Magnetiq Bank is part of the Signet Bank Group, with its sole shareholder being Signet Bank AS, Latvia’s leading investment bank focused on financing and attracting investment for local entrepreneurs and their companies.