02.03.2016, 07:33
CAPI: JSC Capitalia unaudited consolidated accounts for 12 months of year 2015
OREANDA-NEWS. JSC Capitalia unaudited consolidated accounts for 12 months of year 2015.
Year 2015 for AS Capitalia group was successful as we reported a consolidated profit of EUR 57,244 and total assets of EUR 2,521,665. As a result, the assets of the company have grown by 81% 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 programme 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.
Loan portfolio in Lithuania accounted for about 25% of the total asset volume. 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.
Equity and subordinated capital (Altum co-financing) accounted for EUR 532,938 or 21.1% of the total assets of the company.
AS Capitalia is the leading lender to small and medium size enterprises in the Baltic States. Since foundation in 2007 Capitalia has financed more than 1000 companies in Latvia, Lithuania and Estonia.
Year 2015 for AS Capitalia group was successful as we reported a consolidated profit of EUR 57,244 and total assets of EUR 2,521,665. As a result, the assets of the company have grown by 81% 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 programme 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.
Loan portfolio in Lithuania accounted for about 25% of the total asset volume. 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.
Equity and subordinated capital (Altum co-financing) accounted for EUR 532,938 or 21.1% of the total assets of the company.
AS Capitalia is the leading lender to small and medium size enterprises in the Baltic States. Since foundation in 2007 Capitalia has financed more than 1000 companies in Latvia, Lithuania and Estonia.
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