Riga, 2015-08-31 13:28 CEST (GLOBE NEWSWIRE) -- Attachments to financial statements have been added.
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Second quarter of 2015 for AS Capitalia group was successful as we reported a consolidated profit of EUR 30,563 and total assets of EUR 2,186,338. As a result, the assets of the company have grown by 57% 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 23% of the total asset volume. In the following quarter AS Capitalia plans to concentrate its activities on Lithuanian market to grow portfolio in this country. Also, the company plans to conclude registration of a daughter company OU Intelia Finance in Estonia and to start operations in this market. In July AS Capitalia has concluded partnership agreement with crowdfunding platform Mintos through which AS Capitalia will offer investors to purchase loans originated and serviced by AS Capitalia. Such partnership will allow us to release capital for future growth.
AS Capitalia is the leading financing and transaction advisory provider for small and medium enterprises in the Baltic States. To date AS Capitalia has financed more than 500 enterprises investing over EUR 10m in start-up, expansion and restructuring capital.
Juris Grišins
T: +37129944395
E: juris@capitalia.lv
