OREANDA-NEWS. AS Capitalia group reported consolidated profit of EUR 48,773 and total assets of EUR 2,623,393. As a result, the assets of the group have grown by 90% compared to the end of the last financial year.

For the last financial year following are the key reported operating indicators:

  • Turnover has significantly grown reaching EUR 575 thousands;
  • Total asset amount has been almost doubled reaching EUR 2.6 million;
  • Net profit amounted to EUR 49 thousands;
  • By the end of the year over EUR 12 million of financing issued to small and medium enterprises. 

AS Capitalia group reported consolidated profit of EUR 48,773 and total assets of EUR 2,623,393. As a result, the assets of the group have grown by 90% compared to the end of the last financial year. The company was able to rapidly increase number of issued loans as a result of participation in state support program by Altum in which small and medium sized companies in Latvia were offered loans at subsidized rates. Profitability of the company has improved as a result of a number of cost saving activities, as well as increased business volume. Financial performance has also benefited from collection of a number of loans that were written off in the previous reporting periods.

The focus of the company in the following year will be on stabilization of the growth as well as increasing recognition of the existing range of financing products. Also, AS Capitalia plans to develop operations of daughter company OU Capitalia Finance in Estonia that started active operations in January of 2016. In November, 2015 the cooperation programme with Altum ended in Latvia and as a result of this partnership 84 small and medium sized enterprises were financed for the total amount of EUR 850,000. In 2015 Company has started cooperation with peer-to-peer financing platform company AS Mintos Marketplace, through which, loans issued by the Company are offered for investment to international private and institutional investor network.