The corporate has registered development of 20% within the mortgage portfolio it manages, the latter having grown from EUR 4.46 million in 2022 to EUR 5.35 million in 2023.
AXI Card Spain continues to comply with a really conservative provisioning coverage, and for 2023 the accrued provisions quantity to EUR 2.3 million, which is about 44% of the gross worth of the managed portfolio.
The corporate continues to be in a loss primarily as a result of the truth that it’s new to the market and has been working in it for about two years. No matter this, nonetheless, in 2023, the optimistic impact on account of the elevated mortgage portfolio and the yield obtained from it may well already be noticed, and for 2023 the loss is about EUR 930k much less in comparison with 2022.
The exercise of AXI Card Spain is especially financed by the dad or mum firm Entry Finance, which in 2023 continues to help the event of the corporate’s portfolio with monetary sources. As well as, the loans on the iuvo market are absolutely assured by Administration Monetary Group (MFG), with an extra assure within the type of a co-debt from Entry Finance.
SEE HERE the audited report of AXI Card Spain.
