Pressemitteilung der IuteCredit Finance S.à.r.l.:
Iute Group reports unaudited results for 6M/2024
Evolution to quality also gaining momentum in quantitySTRATEGIC HIGHLIGHTS
- Longer maturities and stronger customers are having an increasing effect in offsetting falling effective annual interest rates and rising interest costs as a result of growth. - Number of active customers at 268 thousand (31 Dec. 2023: 274 thousand) with revenue per customer (LTM) up to 369 EUR (6M/2023: 338 EUR). - Total number of customers up to 1,1 million (31 Dec. 2023: 1,05 million). - Group consolidated balance sheet up 5,5% to 396,5 million EUR and equity up 8,8% to 69,4 million EUR as of 30 June 2024. - Increasing use of MyIute app - 993 thousand downloads as of 30 June 2024 (31 Dec. 2023: 813 thousand). - Wallet services and digital insurance brokerage continue to grow significantly faster than lending business - further acceleration expected. In July 2024, Fitch Ratings (Fitch) assigned a B- (Stable Outlook) Long-Term Issuer Default Rating (IDR) and a B- Senior Secured Debt Rating for EUR Bond 2021/2026.OPERATIONAL HIGHLIGHTS
- Loan payouts at already high levels showing further increased by 38,0% to 184,6 million EUR (6M/2023: 133,8 million EUR). - Number of loans signed with 167 thousand at prior-year level (6M/2023: 168 thousand). - Cost of risk, expressed as net impairment charges to average gross loan portfolio, decreased to 9,0% (6M 2023: 11,0%), underlying trajectory to improvement of customer quality - Gross loan portfolio up 13,0% to 284,7 million EUR (31 Dec. 2023: 252,0 million EUR) of which principal amount of loans increased 14,1% to 264,9 million EUR (31 Dec. 2023: 232,2 million EUR). - Repayment discipline (Customer Performance Index, CPI30) at 86,4% (6M/2023: 88,1%), as a result of still below-average Situation in Bulgaria. - Net loan portfolio up 14,4% to 265,7 million EUR (31 Dec. 2023: 232,2 million EUR). - 77 cardless ATMs operational (31 Dec. 2023: 75 ATMs).FINANCIAL HIGHLIGHTS
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