Helsinki, Finland, 2015-05-12 08:00 CEST (GLOBE NEWSWIRE) -- The increased funding base has enabled Euroloan to grow considerably in its main consumer finance markets. Successful new customer acquisition has been the main growth driver, together with improved utilization of existing credit limits. The full impact of the revenue growth that started in the first quarter can be seen during the second quarter. The group expects both a significant growth in turnover for the second quarter and, due to the growth in current receivables, higher incoming cash flows from repaid loans for the following months.
The growth has been achieved maintaining strict scoring and customer selection criteria, i.e. the relative credit risk has not increased for the credit portfolio. Continuous improvement has successively improved the quality of the credit portfolio, and the overall credit risk is now much lower than before.
The interim quarterly financial statement for Q1/2015 will be published shortly. Turnover for the first quarter was slightly above the average for the previous year, with a marked increase toward the end of the quarter when more funding became available.
The outlook regarding turnover, income and total balance sheet for the financial year is that they will grow from the previous year, but the Board notes that the availability of liquidity in particular will affect the outcome significantly for the second half of 2015. The current outlook regarding funding and growth for 2015 is very positive.
Euroloan Group PLC (Euroloan) is a rapidly growing international finance group specialized in financial technology (FinTech). The group’s headquarters are located in Helsinki, Finland, with offices in Stockholm, Sweden and Warsaw, Poland. Euroloan has developed the most efficient financing business models and systems in the market. Euroloan’s fully automated and internationally scalable cloud banking services provide real-time credit solutions for consumers and small-to-medium size businesses. Euroloan has consolidated its market position and increased its market share continuously since the company was established in 2007. More information about the company can be found at www.euroloan.com.
For more information, please contact:
Jonas Lindholm
Euroloan Group PLC
Tel +358 10 217 1003