Latvian fintech company DelfinGroup continued to show growth in retail and loan issuance in the first quarter of 2024.
The sales of pre-owned, slightly pre-owned and new goods grew by 8% to 3.7 million euros in the first quarter of the year.
New loans totalling 25.1 million euros were issued in the first quarter of this year, a 5% increase compared to the first quarter of 2023. 6.4 million euros were issued in the pawn lending segment, or 13% more than in the previous year's first quarter. Meanwhile, 18.7 million euros were issued in consumer loans, increasing by 2% compared to the corresponding period of the previous year.
In the first quarter of 2024, DelfinGroup focused on increasing the loan portfolio yield. By mitigating portfolio risk, the loan issuance in the consumer lending segment grew more proportionately than in the first quarter of last year. The company's management welcomes the achieved results and sees stable growth potential in both the consumer and pawn loan segments, especially after the introduction of the digital pawnshop and the start of business in Lithuania.
| Q1 2024 | Q1 2023 | Change % | |
| Consumer loan issuance ('000 EUR) | 18 704 | 18 262 | 2% |
| Pawn loan issuance ('000 EUR) | 6 401 | 5 685 | 13% |
| Total loan issuance ('000 EUR) | 25 105 | 23 947 | 5% |
| Sale of pre-owned goods ('000 EUR) excl. VAT | 3 724 | 3 434 | 8% |
About DelfinGroup
AS DelfinGroup is a licenced fintech company established in 2009 and operates under the brand names Banknote and VIZIA. The company has been profitable every year since 2010. DelfinGroup continuously develops and offers consumer and pawn loans, loans developed for senior citizens, Buy now pay later loans (BNPL loans), and the sale of pre-owned goods online and at more than 90 branches across Latvia. Since 2014, DelfinGroup has been known on the Nasdaq Riga Stock Exchange as a bond issuer and, since 2021, as a listed company on the Baltic Main List. The company regularly pays dividends to its shareholders. The sustainability of DelfinGroup is based on focused corporate governance, fintech innovation, responsible lending, financial inclusion, and facilitating the circular economy.
For further information, please contact:
Aldis Umblejs,
DelfinGroup Chief Financial Officer
Phone: +371 26189988
E-mail: IR@delfingroup.lv
