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DelfinGroup is strengthening its leading position on the pawnshop market by taking over more loan portfolios
Emitents DelfinGroup, AS (iepriekšējais nosaukums - ExpressCredit, SIA) (2138002PKHUJIMVMYB13)
Veids 2.2. Iekšējā informācija
Valoda EN
Statuss Publicēts
Versija
Datums 2022-07-19 14:24:05
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The financial group DelfinGroup continues strengthening its leading positions on the Latvian pawnshop market and has completed the takeover of the loan portfolios of six pawnshop branches of the Finance 360 pawnshop partnership. Among them were the loan portfolios of four branches of Loko Finanses in Rīga, Jūsu Lombards in Liepāja, and Ātrais kredīts in Rēzekne.

The loan portfolios of all six pawnshops will be taken over by the branches of the Banknote pawnshop network, which will be easily available to the customers of the pawnshops taken over. In the future, they will get a broader and better range of services available throughout the Banknote chain.

Member of the management board of DelfinGroup Sanita Zitmane: 'The business development goal of DelfinGroup is to combine a green mindset with economic efficiency. The company is actively expanding its network of Banknote branches, building an infrastructure to make it easier for people to sell and buy used and tested goods all over Latvia. We are the Latvian pawnshop market leaders in the range of services and their quality. Our good reputation contributes to the fact that other market players in the process of restructuring their business turn straight to DelfinGroup with offers of cooperation – they know that we will take good care of their customers in line with the highest standards of customer service and corporate governance. The former customers of the pawnshops we take over also benefit, as they get access to a wider range of pawnshop services in more than ninety Banknote branches throughout Latvia, including a rapidly growing online shop, mobile app services and remote assessment of goods.'

DelfinGroup continues its stable growth by expanding the range of its services and improving the services it already offers by opening new branches and taking over the loan portfolios of other pawnshops. The last significant transaction on the Latvian pawnshop market was the takeover of the pawnshop business of Moda Kapitāls, which DelfinGroup began in August 2021 and completed at the beginning of this year. The takeover of Moda Kapitāls, which owned the fourth biggest pawnshop chain in the country, strengthened the leading positions of DelfinGroup outside of Latvia's capital.

DelfinGroup currently continues to work towards its strategic goals and is successfully progressing in fulfilling its key long-term task: growing its loan portfolio beyond 70 million euros by the end of 2024. Notably, the first half of 2022 was the most successful period in the history of DelfinGroup in terms of the loans issued and used goods traded.

DelfinGroup is not required to submit a report on the merger of market participants to the Competition Council due to the takeover of the loan portfolios of the six pawnshops, as this transaction does not meet the reporting thresholds.

 

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About JSC DelfinGroup

JSC DelfinGroup is a licenced technology-based financial services company 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), and sale of pre-owned goods both online and at more than 90 branches across Latvia. On average, 35 thousand loans are issued monthly and serviced by the professional team of more than 300 JSC DelfinGroup employees. The company has a total of over 400,000 registered customers. Since 2014, JSC DelfinGroup has been known on the Nasdaq Riga Stock Exchange as a bond issuer and, since 2021, as a share issuer on the Baltic Main List. The company's IPO in 2021 attracted almost 6000 new shareholders. The company regularly pays dividends to its shareholders. In 2021, the company's net loan portfolio grew to EUR 43 million, while its EBITDA reached EUR 10.2 million, with profits before income tax for dividends of EUR 5.2 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. 

 

         For further information, please contact:
         Aldis Umblejs
         AS DelfinGroup Chief Financial Officer
         Phone: +371 26189988
         E-mail: IR@delfingroup.lv

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