October 24, 2016
SIA ExpressCredit boost revenues by 25% and issues bonds worth 5 million euro
SIA ExpressCredit (operates under the brands “Banknote” and “Rīgas pilsētas lombards” has reached the greatest performance indicators of all times in the 3rd quarter of 2016. Amount of the consumer credits provided by the company has reached EUR 8.33 million in the 3rd quarter representing 26% over the indicator of the relevant period in 2015. Along with the increase of amount of the granted loans, amount of revenue reached EUR 3 million in the 3rd quarter representing 5% over the indicator of the relevant period in 2015 and 25% over the indicator of the 1st quarter of 2016.
Agris Evertovskis, Chairman of the Board of the Company, explains the results: “Performance results of 2016 comply with the company’s plans. Due to the maintaining demand for consumer credits and our ability to provide modern and contemporary financial services according to the needs of our clients, now we can observe stable and reasoned growth both in terms of revenue, and granting of credits. This year, we are planning to grant 400 thousand loans at the total amount of 33 million euro.”
New bonds for the financing of development
On 17 October 2016, JSC Latvijas Centrālais Depozitārijs has registered 5000 bonds of the company "SIA ExpressCredit 14% 2021 Notes Issue” with the nominal value of EUR 1000 per each and the total amount of issue EUR 5 000 000, assigning for the issue ISIN code: LV0000802213. Payments of the bond coupon at the amount of 14% will be provided on the 25th day of each month. Placement of the bonds is organized by JSC (AS) Baltikums Bank. “Nowadays, issue of bonds is a good alternative to bank financing. We are planning to use the attracted funds for the development of the company, particularly – for the development of consumer credit,” explains Agris Evertovskis.