DelfinGroup increases its share capital to € 4 million

30.07.2020

mintosblog

DelfinGroup, a company operating in Latvia under the Banknote, VIZIA, and Riga City Pawnshop brands, has decided to increase share capital to € 4 million.

On July 28, 2020, the shareholders of DelfinGroup approved an increase in the company’s share capital from € 1.5 million to € 4 million. The share capital will be increased by diverting retained earnings from the previous years. The changes will be registered in the Enterprises Register of the Republic of Latvia.

DelfinGroup’s vision is to achieve the highest possible recognition by all its stakeholders for the service they offer based on the company’s management values: simplicity, accessibility, respect, progress, ambition, mastery and focus on the client. 

Agris Evertovskis, Chairman of the Board, explains the reasons for the decision to increase the share capital: “Our company has been operating for 10 years and during this time, it has experienced gradual, moderate growth from year to year throughout its existence. We plan to continue the path by improving services, increasing market share, and improving investor relations. The logical next step that proves this is to increase the share capital, hence strengthen the company’s balance sheet.”

DelfinGroup’s board member, executive director, Didzis Ādmīdiņš, who is responsible for the consumer lending segment, says: “Our plans are to improve the attractiveness of the lending product for all customer categories. A strong financial position will help us to create and offer new products and improve existing ones, which will make our services even more profitable and more convenient for our clients.”

“A significant increase in the company’s share capital is a clear signal to our investors that we are thinking and planning for the long term. Our goal is to be competitive in attracting financing both on the stock exchange and on the Mintos marketplace,” explains Kristaps Bergmanis, a member of the company’s board, and the financial director.

“For a significant part of the population, the pawnshop service is the most accessible source of additional financing for both daily and unforeseen expenses. In the regions we operate it, our branches are often the only financial institution in the city. Over the years, we have transformed the pawnshop loan into a modern, convenient, and sustainable service that primarily addresses the issue of financial availability, and at the same time promotes efficient use of resources by returning workable assets to the secondary market,” adds Ivars Lamberts, Commercial Director.

DelfinGroup has issued bonds that have been listed on the Nasdaq Riga stock exchange since 2014. The company’s investors include both individuals (retail investors) and institutional investors from Latvia, Lithuania, Estonia, and other countries.

According to Latvian regulator of lending companies Consumer Rights Protection Centre, the market share of the Banknote brand in the pawnshop segment in Latvia exceeds 45% of the total market share, in the consumer loan segment: 8% (according to management estimate based on CRPC data). In the company’s branches, it is possible to receive both a pawnshop service and consumer loan service, that conditions for seniors are specially adapted. The company is also widely represented in the digital environment and is developing remote service provision – in the field of consumer loans and an online store.

About DelfinGroup

DelfinGroup is a licensed consumer lending company founded in 2009. The Group is represented by the Banknote, VIZIA, and Riga City Pawnshop brands. The Group’s core services are consumer loans, distance loans, pawnbroking loans. The Group operates in 38 Latvian cities and populated areas with a total of 87 branches, employing more than 270 professionals and having paid € 2.97 million in taxes for the year 2019. SIA DelfinGroup is a member of LAFPA and LTRK and has qualified for the Gold level status of SRS cooperation program.

The current amount of DelfinGroup outstanding investments on Mintos is € 13 231 422. There are 75 058 investors with active investments in DelfinGroup loans, with the average investment per investor being € 176.

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