Sun Finance Group reports unaudited financial results for the 6 months of 2022
During the six months of 2022, the Group significantly grew the loan issuance volume. The loans issued amounted to EUR 316.7 million, an increase of 48% compared to EUR 214.2 million issued in the same period of 2021.
In line with the overall business growth during the reporting period, the Group’s financial metrics have significantly improved since last year:
A net loan portfolio of EUR 129.4 million was reached at the end of June 2022, recording an increase of 34.0% compared to EUR 96.6 million at the end of December 2021
Interest income has grown by 27.5%, reaching EUR 115.9 million, from EUR 90.9 million in the six months of 2021
The Group recorded a net profit of EUR 28.8 million in the six months of 2022, exceeding the result by 27.5% comparing with the same period of 2021.
Overall, the Group’s performance over the period has been stable and cash generating, amidst the uncertainty in the Global financial markets.
About Sun Finance Group and Sun Finance Treasury Limited
Sun Finance Treasury Limited is a subsidiary of Sun Finance Group, AS. Sun Finance is a financial technology company established in Riga, in 2017, by CEO Toms Jurjevs and co-founder Emīls Latkovskis. Sun Finance operates as an online consumer financing platform in seven countries on three continents, with headquarters in Riga, Latvia. Sun Finance has more than 9 million registered customers and employs more than 1,000 people, ~150 of whom work at the headquarters in Riga. The company is led by a team of seasoned professionals with more than 15 years of experience in managing FinTech, financial and IT companies.
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