SIA AgroCredit Latvia Audited Annual Report 2020 and Corporate Governance Report
Mārupe, Latvia, 2021-04-29 12:46 CEST --
Despite the challenges caused by Covid 19 crises, year 2020 was successful period of growth for SIA AgroCredit Latvia. The farming sector was not influenced significantly by pandemic – the demand for grain and milk products remained stable and the prices in grain markets were on a high level. The season was favourable for grain growers and there were record grain yields achieved in Latvia.
SIA AgroCredit Latvia exceeded its set targets and the credit portfolio reached over 12 million EUR by the end of the season (July). Traditionally it decreased towards the end of the year as seasonal financing agreements were repaid after the grain harvest. The total interest income increased by 38% and exceeded 1.2 million EUR and the net profit grew by 43%.
The company plans further growth of financing amounts in 2021, by increasing its recognition in the market and offering convenient and modern services to its customers and cooperation partners.
Chairman of the Board
Phone +371 29445225