With an aim to strengthen the circular economy in trade, Latvian fintech company DelfinGroup continues to develop its circular economy trade network Banknote by investing more than EUR 127,000 in the reconstruction and development of its branches. At the same time, the company points out that the development of the branch network is also driven by the high public demand for convenient financial services and in-person options for the circulation of goods, as opposed to the general tendency to close various types of service outlets.

 

The company has developed the largest and most accessible circular economy retail network in Latvia, Banknote, with over 90 in-person branches.

 

"At a time when companies are rapidly digitising their businesses and moving to the online-only provision of various services, we see that demand for face-to-face services remains high, especially in the regions of Latvia, where the overall availability of a wide range of services is limited. Therefore, people actively use the opportunity to receive services as close to home as possible. Currently, there are over 90 Banknote financial services and commodities outlets in Latvia with a wide representation in regions and small towns. In some places, our branches are the only or one of the few electrical goods and jewellery dealers, and at the same time – a financial service provider," explains Didzis Ādmīdiņš, Chairman of the Management Board of DelfinGroup.

 

He adds that over EUR 127,000 was invested last year in developing and improving the branch network, providing modern retail and service outlets that often serve a social function in less populated areas. Last year, the branches in Ludza, Preili, Jelgava, Olaine and Salaspils were expanded, providing a wider assortment of goods, which amounts to around 1,000 products in each store. Branches are also regularly upgraded and refurbished; upgrades are planned for several of them again this year.

 

Jewellery, smartphones, laptops, work tools, audio and video equipment, sports equipment, watches, art, furnishings and other goods dominate circular economy outlets. Buying verified items with a guarantee on the secondary market saves both financial and natural resources.

 

"While one of our strategic priorities is the digitisation of our business, we are focused on developing both online and face-to-face services, thus providing people with the most accessible ways of receiving services. Our constant priority is to ensure a wide branch coverage in all regions of the country while various service providers continue to leave the small cities of Latvia. The risks of financial exclusion mustn't arise in society; therefore, we will continue to develop branches in Riga and the regions, as well as the availability of services online," D. Ādmīdiņš emphasises.

 

About AS DelfinGroup

 

DelfinGroup is a licenced fintech company established in 2009 and operates under the brand names Banknote and VIZIA. The company 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. On average, 35 thousand loans are issued monthly and serviced by a professional team of more than 300 DelfinGroup employees. The company has a total of over 400,000 registered customers. 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's IPO in 2021 attracted almost 6000 new shareholders. The company regularly pays dividends to its shareholders. In 2022, the company's net loan portfolio grew to EUR 67.4 million, while its EBITDA reached EUR 13.1 million, with profit before taxes of EUR 7.3 million. The company's sustainability is based on focused corporate governance, fintech innovation, responsible lending, financial inclusion, and facilitating the circular economy. The company has been profitable every year since 2010.

 

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