This year the company plans to expand its network of branches, with a focus on regions, where the population is suffering from ever-reducing availability of modern financial services. Traditional banks are wary to allocate funding to individuals and companies in the regions, and are constantly closing physical branches and reducing the number of ATMs available. 

DelfinGroup’s Chairman of the Board Kristaps Bergmanis: “One of the goals achieved by the Banknote network of branches is improving financial service availability and building a more financially inclusive society across Latvia. It is our goal to make financial services available not only to the upper middle-class located in developed areas, but also people situated in the periphery, as well as older people who are not always able to fully solve all questions finance-related via the Internet.”

The second goal achieved by the Banknote network of branches is stimulating circular economy, developing the understanding of reusable resources and promoting the idea of granting products a “second life”. A wide network of pawnshops across Latvia invites people to exchange second-hand goods, which they may have bought, used for a while, but for some reason aren’t using daily anymore. The modern way of life is geared towards reducing “waste culture” to a minimum, and increasing the longevity of goods - either by repairing items or using them second-hand, Bergmanis notes.

Promoting the buying and selling of second-hand goods amongst various audiences, this year Banknote also plans to further expand the supply in its online store. According to data, the online store has already become an important channel for sale of second-hand goods, with the store’s turnover in the last quarter of 2020 exceeding the turnover in the same period the year before by 438%. Currently, the most popular second-hand goods in the online store consist of jewelry (29% of the total items sold), followed by smartphones (18%) and game consoles (14%). Notably, among men some of the most popular second-hand goods are construction tools (9%).

Banknote was founded in 2015, specializing in providing consumer loans to people all across Latvia, in return for verified second-hand goods that clients no longer have a use for. Banknote is currently the pawnshop market leader with the most branches across the country.

About DelfinGroup

DelfinGroup is a licenced financial services company founded in 2009, which currently represents three brands - Banknote, VIZIA and Rīgas pilsētas lombards. The company employs 270 professionals at 91 branches located in 38 Latvian cities and towns. The estimated amount of taxes for year 2020 is EUR 3.42 million. DelfinGroup is a member of the Latvian Chamber of Industry and Commerce and has received the Gold level status within the cooperation programme of the Latvian State Revenue Service. The core services of the group include sale of pre-owned goods, pawn loans, consumer loans, and senior loans, the terms of which are specially adapted for seniors. The bonds of DelfinGroup are traded on the Baltic First North bond list of Nasdaq Riga.