MeDirect today reported a return to profitability for the six months ended 30 June 2026, recording a profit before tax of €2.4 million, compared with a loss before tax of €3.9 million in the same period of 2025. The result was underpinned by continued growth across the Bank's core lending and retail and wealth businesses, a 9% increase in the balance sheet to €5.8 billion, and a strengthened capital base following further investment by its controlling shareholder.
The six months were the first full reporting period under Banka CREDITAS, part of the privately owned CREDITAS Group, which completed its acquisition of MeDirect in September 2025. The Bank's strategic direction remains unchanged; the shareholder's investment gives it the means to pursue that strategy with greater momentum. That strategy rests on three pillars:
- consolidating and growing its position in its core markets;
- leveraging its technology platform to accelerate the delivery of its business model; and
- building sustainable profitability around its two principal business lines - retail and wealth, and business banking.
Growth across markets and business lines
The Group's balance sheet grew by €481 million, or 9%, to €5.8 billion, driven by growth across its Belgian, Dutch and Maltese mortgage portfolios and a 40% increase in Maltese corporate lending, funded principally by client deposits, which rose to €4.4 billion. The registered client base grew around 15% over the year to approximately 184,000, with an increasing proportion of clients holding investment products as the shift towards the Bank's wealth proposition continued.
Client activity reached record levels. Platform logins rose 57% to 6.87 million, and clients executed close to 400,000 trades - almost double the prior period - with more than nine in ten client logins now made through mobile devices, highlighting the continued success of the Group's mobile-first strategy.
Investing in the digital platform
The Bank continued to invest in the technology platform that underpins its digital banking and wealth proposition, delivering enhancements across its services during the period. These included the introduction of SEPA Direct Debit and corporate debit cards, upgrades to its wealth and investment tools, and further strengthening of the platform's security and fraud-prevention capabilities. The platform maintained a high level of availability throughout the half while absorbing sharply higher client activity, and the Bank intends to extend its digital capabilities further in the second half, including mobile-first client onboarding and new connectivity services for corporate clients.
A stronger foundation
The return to profit follows the completion of the Bank's balance sheet de-risking, with credit quality across its core portfolios remaining strong and the non-performing loan ratio reduced to 0.5%. The Bank maintained capital and liquidity buffers in excess of regulatory requirements, further reinforced during the period by a common equity tier 1 contribution from the shareholder.
In May 2026, MeDirect was named Digital Savings and Investing Platform Excellence Award 2026 (Europe) by Capital Finance International, recognising its success in giving clients a secure, transparent and easy-to-use platform that combines lower costs with the tools to manage their own savings and investments. The judging panel also highlighted the Bank's client growth, financial strength and reinforced governance framework.
Outlook
MeDirect enters the second half of 2026 with momentum across each of its markets, a strengthened capital base and a platform well positioned to support further growth. Its priorities for the remainder of the year are to continue growing its client franchise across Malta and Belgium, to further enhance its digital banking and investment platform, and to build sustainable profitability across its core business lines.
Commenting on the results, Jean-Claude Maher, Group Chief Executive Officer of MeDirect, said: "Our return to profitability in the first half reflects the strength of our strategy and the momentum in our core business. MeDirect is well positioned for further growth, with a clear strategic direction, a strengthened capital base and a growing, increasingly active client base. We remain committed to earning our clients' trust every day, providing individuals and businesses with the best possible banking and wealth management experience, and we thank them for their continued confidence and support."
MeDirect Bank (Malta) plc's Interim Results to 30 June 2026 can be found on the Bank's Investor Relations webpage (https://www.medirect.com.mt/about-us/investor-relations/)