In 2023, Straightforward Credit score continues the development of previous years to make its providers increasingly accessible and handy for its customers. Along with offering loans all through the nation with the assistance of over 2,000 credit score consultants and almost 200 places of work and overlaying over 1,200 areas, Straightforward Credit score provides its providers by way of Bulgarian Publish and different exterior companions.
As well as, the corporate’s shoppers can now apply completely on-line by way of the corporate’s web site or the Straightforward Credit score cell utility. The partnership with Western Union launched in 2019, then again, permits cash to be obtained from any level in Europe.
In 2023, Straightforward Credit score granted almost BGN 232 million shopper loans in comparison with BGN 223 million granted in 2022, with the sums collected for the interval amounting to BGN 327 million in comparison with BGN 319 million for 2022, which is a rise of two.6%.
There may be additionally development within the firm’s Gross mortgage portfolio in 2023, as of 31.12.2023 it quantities to BGN 94 million, which is a rise of 4.77% in comparison with the earlier 12 months.
Relating to the standard of the mortgage portfolio managed by Straightforward Credit score, there may be an enchancment, and in 2023, 92.5% of all receivables are within the Present class.
The anticipated credit score loss from the portfolio in 2023 is within the quantity of BGN 1.18 million, which is roughly 1.3% of the complete credit score portfolio. To cowl this Loss, the corporate has put aside provisions of a complete worth of BGN 1.7 million for the entire of 2023.
Because of the registered development within the mortgage portfolio managed by the corporate, in 2023 there’s a development in Earnings from curiosity, charges and penalties, which quantities to BGN 106 million in comparison with BGN 100 million for the transitional reporting interval, which is a rise of about 6%.
In 2023, Straightforward Credit score ends the 12 months with a Revenue of BGN 20 million, which is BGN 5 million lower than in 2022 and is principally because of the determination to distribute much less dividend from its subsidiaries.
The corporate’s fairness is BGN 264 million as of 31.12.2023.
See Straightforward Credit score’s audited report HERE.
