Cost-to-income ratio of the banking industry in Estonia 2014-2023, by quarter

The cost-to-income ratio of the banking industry in Estonia fluctuated significantly between 2014 and 2023. As a key indicator of a bank's operating costs relative to its income, the ratio reached its highest point at 56.06 percent in the first quarter of 2021, depicting a period of high expenses. Following an overall downward trajectory afterward, it stood at 38.12 percent by the fourth quarter of 2023, indicating a higher profitability for the sector due to lower costs.