October 7, 2021
AS DelfinGroup issued loan volume grows by 30% in the 3rd quarter and hits all time high level
Latvian financial services company AS DelfinGroup provides a highlight of selected operational data for 2021 Q3. In Q3 AS DelfinGroup issued new loans in the amount of 15.3 MEUR which is a 29% increase compared to the previous quarter and is the all-time highest amount of loans issued in a single quarter. The net loan portfolio at the end of Q3 2021 also reached a record level in the company’s history – 35.8 MEUR, a 32% y-o-y increase. This information is consistent with the business description and operational targets indicated in IPO prospectus of AS DelfinGroup.
|Indicator||Q1 2021||Q2 2021||Q3 2021||Q3 2020||
|Loan issuance (in m EUR)||10.0||11.8||15.3||14.6||5%|
|Net loan portfolio (in m EUR)||29.7||32.4||35.8||27.2||32%|
AS DelfinGroup chairman of the Board, Didzis Ādmīdiņš: “The company continues robust growth and achieves all the milestones of its long-term plan to reach 51 MEUR loan portfolio by the end of 2022 and a 70 MEUR loan portfolio by the end of 2024. We have successfully diversified our risks and, despite restrictions and uncertainties related to COVID-19, continue to provide healthy growth. Over the last six months the company’s net loan portfolio has been growing at a rate of approximately one million euros per month. At the end of first quarter 2021 the loan portfolio was 29.7 MEUR, at the end of Q3 2021 it reached almost 36 MEUR and keeps growing. At this rate we are confident to reach the targeted profit before tax of 8.7 MEUR for 2022.”
It’s worth mentioning that the quality of the consumer loan portfolio has also improved during this year. The proportion of loans, with payment delays over 90 days, has decreased to 3.6% of the total loan portfolio, which is another all-time best result of the company.
“We keep automating and digitalizing our existing services and introduce new ones. We have launched the new Banknote app to allow our customers to conveniently browse over all payments and available services. We see the most rapid increase of customer activity in online channels. I’d like to also emphasize the role of our pre-owned goods online store as a contributor to the circular economy. The decision to go public and have our shares listed on Nasdaq Riga Baltic Main List has been helpful – the publicity of AS DelfinGroup and the public interest in our company has increased,” says D.Ādmīdiņš.
The offer period for AS DelfinGroup shares was launched on 28 September and will close on 11 October (inclusive). Price per offer share is EUR 1.52 and there is no limit for number of shares subscribed for.
The IPO prospectus is available on https://www.fktk.lv/wp-content/uploads/2021/09/AS-DelfinGroup-IPO-prospectus-2021.pdf.
To subscribe for shares investors must submit a subscription undertaking to their bank. Subscription is facilitated by the members of Nasdaq Riga: LHV Bank, Swedbank, SEB, Luminor Bank, Citadele, Rietumu Banka, BlueOrange, Signet Bank, Siauliu Bankas, Skandinaviska Enskilda Banken, Nordea Bank and others. Full list of Nasdaq Riga members is available on: https://nasdaqbaltic.com/statistics/en/members
AS DelfinGroup planned number of shares to be issued in the IPO is up to 8,395,000, and the total planned number of shares of the company after the IPO will be up to 48,395,000.
About AS DelfinGroup
AS DelfinGroup is a licenced technology-based financial service company that was established in 2009 and operates under the brand names Banknote and VIZIA. The company continuously develops and offers consumer and pawn loans, loans developed for senior citizens, Buy now pay later loans (BNPL loans), as well as sale of pre-owned goods both online and at more than 90 branches across Latvia. On average, 35,000 thousand loans are issued every month and serviced by the professional team of more than 250 AS DelfinGroup employees. The company has a total of over 400,000 registered customers. Since 2014, AS DelfinGroup has been known on the Nasdaq Riga as a bond issuer. The company regularly pays dividends to its shareholders. In 2020, the company's net loan portfolio grew to EUR 34.6 million, while its EBITDA reached EUR 9.3 million, with profits before income tax for dividends of EUR 4.65 million. The company’s sustainability is based on focused corporate governance, fintech innovation, responsible lending, financial inclusion and facilitating the circular economy. The company has been profitable every year since 2010.