MeDirect Bank has said it is entering 2026 with confidence after a year marked by new ownership, restructuring and a deliberate balance sheet reset that resulted in a reported loss for 2025.

The bank’s board approved its annual report and audited financial statements on 11 March, showing that the group recorded a loss before tax of €6.1 million for the year ended 31 December 2025, compared with a €5.0 million loss in 2024.

Management said the result reflected three main non-recurring factors: the near-complete exit from its Institutional Credit Lending portfolio, leverage constraints ahead of the acquisition by Banka CREDITAS, and €4 million in restructuring and post-acquisition review costs absorbed during the year.

Excluding one-off items, the group reported an underlying net operating profit of €0.8 million.

The 2025 financial year was also shaped by a major ownership change. In September, Banka CREDITAS completed its acquisition of MDB Group Limited following regulatory approval from the European Central Bank. MeDirect said the deal brought in a financially strong and strategically aligned shareholder, alongside €40 million in fresh capital and a commitment for further investment in 2026.

The bank also confirmed the appointment of Jean-Claude Maher as Group CEO.

Operationally, MeDirect continued to grow across its core markets of Malta and Belgium. In Malta, the bank said its corporate banking franchise expanded to more than 650 business clients, while the Maltese mortgage portfolio grew 17% and business lending increased 35.6%.

At group level, total assets rose 5.2% to €5.34 billion, while customer deposits grew 6.7% to €4.1 billion. Excluding the wind-down of the ICL portfolio, underlying lending balances grew 10.4%.

The bank’s balance sheet and risk profile also improved. Its non-performing loan ratio fell sharply from 2.2% to 0.9%, while capital and liquidity remained comfortably above regulatory requirements. The Tier 1 capital ratio stood at 20.8%, with the total capital ratio reaching 23.5%.

MeDirect said it continued investing in its digital platform throughout the year, focusing on broader product offerings, internalisation of technology infrastructure, stronger governance and enhanced platform security.

Looking ahead, the bank said its priorities include growing client franchises in Malta and Belgium, strengthening Malta’s corporate banking operation, expanding wealth management and digital banking services, and returning to sustainable profitability.