The Latvian fintech company DelfinGroup continued to show growth in the sales of pre-owned goods and loan issuance in the nine months and the third quarter of 2023.

 

The sales of pre-owned, slightly pre-owned and new goods in the nine-month period increased by 28%, reaching 11 million euros, but during the third quarter of this year reached 4 million euros, a 16% increase compared to last year.

 

"We see that society's habits are gradually changing towards more people supporting using pre-owned goods, thus promoting the circular economy. It is a step towards a greener future, where we are all responsible for the sustainable use of resources and contributing to the green economy. We have created the appropriate infrastructure throughout Latvia with more than 90 Banknote branches, encouraging people to buy pre-owned or slightly pre-owned goods, as well as resell things that they no longer need themselves. In addition, to further facilitate the resale of pre-owned or slightly pre-owned goods, we also offer remote purchase of goods," explains Didzis Ādmīdiņš, Chairman of the Management Board of DelfinGroup.

 

D. Ādmīdiņš also adds that the results of the first nine months of the year in the retail segment confirm that each of us can be a part of promoting circular economy principles in society by introducing positive changes in the system of goods consumption.

 

Furthermore, in the pawn lending segment, the issuance of loans increased by 26% in the nine-month period, reaching 17.6 million euros. In the third quarter of 2023, pawn loans were issued for 5.9 million euros or 11% more than a year earlier.

 

Meanwhile, in the consumer lending segment, in the first nine months of 2023, loans were issued for 51.6 million euros, or 18% more than in the corresponding period last year, while in the third quarter, 17.6 million euros were issued, which is 4% more than in third quarter of 2022.

 

The company has issued loans worth 69.2 million euros in the first nine months of 2023, an increase of 20%.

 

DelfinGroup is constantly improving the quality of the loan portfolio and developing the customer evaluation process - this is reflected in a moderate increase in loan issuance in the third quarter of 2023. This approach simultaneously ensures balanced growth and a lower-risk loan portfolio in the long term.

 

Continuing the development of Banknote, the largest circular economy retail network, DelfinGroup has opened Latvia's oldest pawnshop – Riga City Pawnshop – in new premises at Audēju Street 6, where customers will be offered an even broader, specially selected range of restored and new jewellery, various types of porcelain dishes, art objects, watches and gemstones.

 

About DelfinGroup

 

DelfinGroup is a licenced fintech company established in 2009 and operates under the brand names Banknote and VIZIA. The company has been profitable every year since 2010. DelfinGroup continuously develops and offers consumer and pawn loans, loans developed for senior citizens, Buy now pay later loans (BNPL loans), and the sale of pre-owned goods online and at more than 90 branches across Latvia. Since 2014, DelfinGroup has been known on the Nasdaq Riga Stock Exchange as a bond issuer and, since 2021, as a listed company on the Baltic Main List. The company regularly pays dividends to its shareholders. The sustainability of DelfinGroup is based on focused corporate governance, fintech innovation, responsible lending, financial inclusion, and facilitating the circular economy.

 

For further information, please contact:
Linda Eltermane,
DelfinGroup Head of PR
Phone: +371 28700457
E-mail: [email protected]