Interim Report 2026
apoBank posts strong result in first half of 2026
26.08.2026
The customer business remained strong in the reporting period, underlining the Bank’s ambition to be the number-one choice for all health care professionals. The new lending business achieved a high level once again, at €2.8 billion (30 June 2025: €3.0 billion). Demand for financing practice and pharmacy start-ups remained high, with the portfolio increasing by 5.7% to €9.3 billion (31 December 2025: €8.8 billion) here. The portfolio for real estate loans was at €17.1 billion (31 December 2025: €17.0 billion).
The Bank remains on its success path with its asset management services for customers. The volume of assets managed rose by 17.0% to €11.0 billion (31 December 2025: €9.4 billion). This means that around 60% of the total volume of our customers’ securities accounts of €18.1 billion comes from the mandated business. Step by step, therefore, apoBank is approaching its goal of achieving a volume of securities accounts of €20 billion by the end of the decade. The Bank expects further impetus towards this goal to come from its new pension savings scheme which it will launch onto the market on 1 January 2027.
Customer numbers grew to just under 516,800. At the same time, the Bank has gained over 1,300 new members, and this number is expected to rise further by the end of the year.
Matthias Schellenberg, Chair of the Board of Directors of apoBank: “The health care market is transforming, as are the needs of our customers. The goal with Primus 2028 is to further evolve apoBank. Our strong first six months confirm that our strategy is taking effect.”
- Volume of securities accounts grows to €18 billion
- Portfolio of start-ups continues to expand
- Outlook: attractive dividend payout planned for 2026
The customer business remained strong in the reporting period, underlining the Bank’s ambition to be the number-one choice for all health care professionals. The new lending business achieved a high level once again, at €2.8 billion (30 June 2025: €3.0 billion). Demand for financing practice and pharmacy start-ups remained high, with the portfolio increasing by 5.7% to €9.3 billion (31 December 2025: €8.8 billion) here. The portfolio for real estate loans was at €17.1 billion (31 December 2025: €17.0 billion).
The Bank remains on its success path with its asset management services for customers. The volume of assets managed rose by 17.0% to €11.0 billion (31 December 2025: €9.4 billion). This means that around 60% of the total volume of our customers’ securities accounts of €18.1 billion comes from the mandated business. Step by step, therefore, apoBank is approaching its goal of achieving a volume of securities accounts of €20 billion by the end of the decade. The Bank expects further impetus towards this goal to come from its new pension savings scheme which it will launch onto the market on 1 January 2027.
Customer numbers grew to just under 516,800. At the same time, the Bank has gained over 1,300 new members, and this number is expected to rise further by the end of the year.
Matthias Schellenberg, Chair of the Board of Directors of apoBank: “The health care market is transforming, as are the needs of our customers. The goal with Primus 2028 is to further evolve apoBank. Our strong first six months confirm that our strategy is taking effect.”
Outlook for 2026 as a whole
For the rest of the year, apoBank will press ahead with its strategy programme Primus 2028. This primarily entails expanding the new Private Banking advisory centre, which it has set up to offer online advisory services for salaried health care professionals in particular.
Dr. Christian Wiermann, CFO at apoBank: “In the first half of 2026, we delivered. Revenues are markedly higher than last year and higher than we budgeted for. In the second half of the year, our investments in digital transformation and the customer business will become more noticeable again. We are using these investments to drive forward our growth strategy.”
For 2026 as a whole, apoBank expects its operating profit before risk provisioning to be on the 2025 level, and its net profit to rise. This would ensure an attractive dividend for its members.
Dr. Christian Wiermann, CFO at apoBank: “In the first half of 2026, we delivered. Revenues are markedly higher than last year and higher than we budgeted for. In the second half of the year, our investments in digital transformation and the customer business will become more noticeable again. We are using these investments to drive forward our growth strategy.”
For 2026 as a whole, apoBank expects its operating profit before risk provisioning to be on the 2025 level, and its net profit to rise. This would ensure an attractive dividend for its members.
The results of the first six months of 2026 in detail
Net interest income rose slightly to €518.3 million (30 June 2025: €495.9 million). Among other things, the deposit business with its increase in demand deposits had a positive effect.
Net commission income jumped above the €100 million mark for the first time at the half year mark, to reach €108.6 million (30 June 2025: €95.9 million). Here, revenues from the securities business with customers rose clearly due to the positive trend in asset management and in pension products. Brokerage commissions also increased.
Administrative expenses decreased slightly to €369.2 million (30 June 2025: €384.7 million). While personnel expenses remained stable, operating expenditure including depreciation was down year on year. The main reasons for this were lower project costs as well as decreased expenditure on bank operations and IT. By contrast, the Bank’s contribution to the guarantee fund almost doubled due to a rise in the membership rate of the BVR protection scheme.
At 59.4%, the cost-income ratio was noticeably better than in 2025. It should settle back to the previous year’s level by the end of the year as apoBank continues to invest in sales and digital transformation.
Thanks to these positive trends, the operating result, i.e. operating profit before risk provisioning, at €261.7 million, was markedly higher year on year (30 June 2025: €210.6 million) and also higher than the budgeted amount.
Risk provisioning for the operating business decreased to -€48.0 million (30 June 2025: -€57.8 million). The Bank allocated -€91.8 million to risk provisioning with reserve character (30 June 2025: -€36.2 million).
The bottom line operating result before tax amounted to €121.8 million (30 June 2025: €116.5 million), while net profit increased to €52.5 million (30 June 2025: €49.5 million).
At mid-year, the balance sheet total was stable at €53.8 billion (31 December 2025: €52.5 billion). The common equity tier 1 capital ratio amounted to 20.0% (31 December 2025: 20.9%), the total capital ratio was 21.5% (31 December 2025: 22.7%).
Net commission income jumped above the €100 million mark for the first time at the half year mark, to reach €108.6 million (30 June 2025: €95.9 million). Here, revenues from the securities business with customers rose clearly due to the positive trend in asset management and in pension products. Brokerage commissions also increased.
Administrative expenses decreased slightly to €369.2 million (30 June 2025: €384.7 million). While personnel expenses remained stable, operating expenditure including depreciation was down year on year. The main reasons for this were lower project costs as well as decreased expenditure on bank operations and IT. By contrast, the Bank’s contribution to the guarantee fund almost doubled due to a rise in the membership rate of the BVR protection scheme.
At 59.4%, the cost-income ratio was noticeably better than in 2025. It should settle back to the previous year’s level by the end of the year as apoBank continues to invest in sales and digital transformation.
Thanks to these positive trends, the operating result, i.e. operating profit before risk provisioning, at €261.7 million, was markedly higher year on year (30 June 2025: €210.6 million) and also higher than the budgeted amount.
Risk provisioning for the operating business decreased to -€48.0 million (30 June 2025: -€57.8 million). The Bank allocated -€91.8 million to risk provisioning with reserve character (30 June 2025: -€36.2 million).
The bottom line operating result before tax amounted to €121.8 million (30 June 2025: €116.5 million), while net profit increased to €52.5 million (30 June 2025: €49.5 million).
At mid-year, the balance sheet total was stable at €53.8 billion (31 December 2025: €52.5 billion). The common equity tier 1 capital ratio amounted to 20.0% (31 December 2025: 20.9%), the total capital ratio was 21.5% (31 December 2025: 22.7%).
apoBank’s key data
| € millions | 1.1.–30.06.2026 | 1.1.–30.06.2025 | Change%1 |
|---|---|---|---|
| Net interest income | 518.3 | 495.9 | 4.5 |
| Net commission income | 108.6 | 95.9 | 13.3 |
| General administrative expenses | -369.2 | -384.7 | -4.0 |
| Balance of other operating income/expenses | 3.9 | 3.5 | 10.9 |
| Operating profit before risk provisioning | 261.7 | 210.6 | 24.2 |
| Risk provisioning from the operating business | -48.0 | -57.8 | -17.0 |
| Risk provisioning with reserve character | -91.8 | -36.2 | >100 |
| Operating result | 121.8 | 116.5 | 4.5 |
| Net profit | 52.5 | 49.5 | 6.0 |
| 30.06.2026 | 31.12.2025 | Change in %1 | |
|---|---|---|---|
| Equitiy Ratio, in Percent | 21.5 | 22.7 | -1.2 |
| Common equity tier 1 ratio, in Percent | 20.0 | 20.9 | -0.9 |
| Liquidity Coverage Ratio, in Percent | 233.1 | 237.0 | -3.9 |
| Balance sheet total, in Euro million | 53,771 | 52,438 | 2.5 |
| Customers | 516,752 | 513,665 | 0.6 |
| Members | 110,849 | 111,591 | -0.7 |
The Interim Report 2026 is available on the financial reports overview.