In the first quarter of 2026, DelfinGroup continued to demonstrate steady growth, which was reflected in a 15% year-over-year increase in revenue, reaching 20.1 million euros. Meanwhile, first-quarter profit before tax reached EUR 3.6 million, which is 58% more than a year earlier. The net loan portfolio increased to EUR 147.7 million.
The increase in revenue compared to the first quarter of last year was primarily driven by the overall growth of the loan portfolio in Latvia and Lithuania, which grew by 22% over the twelve-month period. In Lithuania, the consumer loan portfolio reached EUR 8.7 million at the end of the first quarter, representing a 13% increase over three months. In total, DelfinGroup issued EUR 32.7 million in loans in the first quarter, which is 9% more than a year earlier. Meanwhile, in the retail segment, sales volumes remained stable in the first quarter, reaching EUR 4.5 million.
Taking into account the cost optimization measures launched last year, the company's sales and administrative expenses decreased by 11% compared to the first quarter of 2025, which, combined with revenue growth, has significantly boosted DelfinGroup's profitability. As a result, DelfinGroup's pre-tax profit increased by 58% to 3.6 million euros, enabling the company to pay higher quarterly dividends to its shareholders compared to the same period last year.
In accordance with DelfinGroup's dividend policy, which allows for the payment of up to 50% of the previous quarter's net profit, the company's Management Board plans to submit for approval at the shareholders' meeting an extraordinary dividend payment of 1.4 million euros, amounting to approximately 0.0308 euros per share. Taking into account the proposed dividend and the share price in the last few days prior to this publication, the dividend yield for the last twelve months is approximately 8.8%.
In March 2026, DelfinGroup expanded its product portfolio by launching home equity loans. The new product is part of the company's long-term strategy aimed at diversifying its lending portfolio. A real estate-backed loan is a financing solution in which the borrower uses real estate they own (such as an apartment, house, or land) as collateral, allowing them to receive a larger loan amount and a longer repayment term compared to unsecured consumer loans. The interest rate on such loans is lower than for consumer loans because the financing is secured by real estate.
To facilitate the development of the company's capital structure and optimize financing costs, DelfinGroup secured additional financing from Multitude Bank p.l.c. The amount of EUR 17.25 million was used to refinance a previous loan from Multitude Bank p.l.c. in the amount of EUR 11 million. Similarly, in February, DelfinGroup successfully redeemed bonds worth 11 million euros, which were refinanced with bonds carrying a lower interest rate.
In order to optimize financing costs and address the upcoming maturity of its EUR 15 million bonds (ISIN LV0000860146) in November 2026, DelfinGroup has started private placement up to EUR 35 million of new unsecured bonds. The bond coupon rate is set at 9.5%, with monthly coupon payments, a 3-year maturity, and a face value of 1,000 euros per bond. Existing holders of bonds LV0000860146 may participate in the exchange offer and receive a 1% premium. The minimum amount for the new subscription and exchange offer is 100,000 euros.
About DelfinGroup
DelfinGroup is a licensed Latvian fintech company founded in 2009 and is a part of the INDEXO group since 2025. DelfinGroup currently operates in Latvia and Lithuania. The company operates under the brand names Banknote and VIZIA. The company has been profitable every year since 2010. DelfinGroup continuously develops and offers consumer loans, pawn loans, and the sale of pre-owned goods online and at more than 80 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.
Additional information:Arturs Dreimanis
DelfinGroup Head of Treasury and Investor Relations
Phone: +371 26189988
E-mail: IR@delfingroup.lv
