Latvia: a fast-growing alternative finance industry

12.06.2018

mintosblog

On Mintos, you can now invest in loans issued in 23 countries on five continents around the world. This means you have the opportunity to effectively diversify your investment portfolio and increase your chances of success. However, it can also be daunting to have so many options to choose from and know which investment geographies are right for you. To help you make a more informed decision, we present the second article of our country overview series on Mintos, taking a look at Latvia. You can read the first article in this series, which focused on Poland,…

ExpressCredit financial results for the year 2017

26.02.2018

mintosblog

ExpressCredit group’s turnover for 12 month of the year 2017 reached EUR 18 million and the Group closed a year with consolidated unaudited profit of EUR 3 million.

CORRECTION: Correction in technical issues in attachment file of Financial statements in English.

The Group’s performance during the year 2017 was as planned. The total revenue compared to the corresponding period of the previous year has increased by 17%, while profit has increased by 308%.

The Group’s turnover has increased in all quarters of 2017 compared to 2016, and year 2017 has been the best in the Group’s history in terms of…

SIA ExpressCredit decreases bond nominal value for EUR 250 000

23.02.2018

mintosblog

According to SIA ExpressCredit bond issue prospectus ISIN LV0000801280, as of 26/02/2018 nominal value of one security is going to be decreased by EUR 50. Total nominal value of bonds issue will be decreased for EUR 250 000. After settlement nominal value of one security (ISIN LV0000801280) will be EUR 150.

According to bond issues prospectus ISIN LV0000801280, 5 000 bonds were issued with an original nominal value of 1 000 euros. Yearly interest rate of the coupon is 14% with a 5 year term and gradual repayment of the nominal value.

ExpressCredit sell shares in subsidiary

22.12.2017

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As of December 21, 2017, the Enterprise Register of the Republic of Latvia registered sale of shares of SIA ExpressCredit subsidiary SIA EC investments. The share of SIA ExpressCredit in the subsidiary has decreased from 100% to 0%. SIA EC finance and shares were disposed of at a nominal share capital of EUR 3000.

ExpressCredit shareholder meeting decision on extraordinary dividends

14.12.2017

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SIA ExpressCredit shareholders meeting on 13/12/2017 decided on extraordinary dividends in amount of 1 000 thousand EUR with respect to operational results for the 9 mounth of the year 2017. During 9 month of the year 2017 SIA ExpressCredit consolidated profit reached to 2 240 thousand EUR. The payout of dividends will be made till 31/12/2017 taking into account bond issue prospectus ISIN LV0000801322, LV0000801280 and LV0000802213.

ExpressCredit financial results for 9 months of 2017

06.11.2017

mintosblog

ExpressCredit group’s turnover for the nine months of 2017 reached EUR 13.5 million and the Group closed a period with consolidated unaudited profit of EUR 2.2 million

The Group has been successfully operating from 1 January 2017 to 30 September 2017. According to the plan, the total revenue compared to the corresponding period of the previous year has increased by 20.8%, totaling EUR 13 490 124.

The Group’s Chairman of the Board, Agris Evertovskis comments on the 9-month results of 2017: “The Group’s performance growth is significant compared to the 9 months of the previous year. The company’s financial…

SIA ExpressCredit shareholder meeting decision on profits for the year 2016

04.10.2017

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SIA ExpressCredit shareholders meeting on 03/10/2017 decided to assign year 2016 profits and profit of previous periods totaling 1 070 thousand EUR to distribute as dividends. SIA ExpressCredit year 2016 profits reached 995 thousand EUR. The payout of dividends will be made till 30/11/2017 taking into account bond issue prospectus ISIN LV0000801322, LV0000801280 and LV0000802213.

ExpressCredit decreases bond nominal value for EUR 250 000

24.05.2017

mintosblog

According to SIA ExpressCredit bond issue prospectus ISIN LV0000801280, as of 25/05/2017 nominal value of one security is going to be decreased by EUR 50. Total nominal value of bonds issue will be decreased for EUR 250 000. After settlement nominal value of one security (ISIN LV0000801280) will be EUR 300.

According to bond issues prospectus ISIN LV0000801280, 5 000 bonds were issued with an original nominal value of 1 000 euros. Yearly interest rate of the coupon is 14% with a 5 year term and gradual repayment of the nominal value.

 

This news release was distributed by GlobeNewswire, www.globenewswire.com – a Nasdaq company

SIA ExpressCredit 1st quarter 2017 financial results

11.05.2017

mintosblog

SIA ExpressCredit Group’s turnover for the 1st quarter 2017 reached EUR 4,2 m and Group worked with unaudited net consolidated profit of EUR 0.68 m.

The Group’s operations during the period from 1 January to 31 March 2017 has been successful. In line with plans, total revenue for the period was up by 31.3% against the 2016 respective period and reached 4 263 619 euro.

Agris Evertovskis comments on 2017 1st quarter results: “Group has achieved significant growth in the loan portfolio and revenue. The main thing I want to note is that this growth is of good quality, sustainable and…

Audited financial statements of SIA ExpressCredit for the year 2016

28.04.2017

mintosblog

ExpressCredit Group’s turnover reached EUR 15,4 m and Group worked with net consolidated profit of EUR 0.96 m for the year 2015.

The Group’s operations during the period has been successful. In 2016 the new amendments to legislation came into force, which led to significantly lower interest rates on consumer loans. Consequently, in line with expectations, total revenues in the period fell by 14.8% against 2015 and reached 15 423 987 euro.

The Group’s strategy in year 2016 included the increase in loan portfolio and reduction of the cost base.

According to the strategy, substantial investments were made in the Group’s “Banknote”…

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