DelfinGroup shares 2020 financial results

The unaudited consolidated turnover of DelfinGroup for 2020 amounted to €23.6 million, the credit portfolio reached €34 million, and EBITDA increased to €9.5 million.

The group’s turnover in 2020 was up 8% and credit portfolio was up 9% on the year before. The consolidated EBITDA increased by 8% during the year.

Didzis Ādmīdiņš, JSC DelfinGroup Managing Board Chairman, comments:

“Despite the COVID-19 situation, in 2020 the group managed to achieve stable growth rates. Although we were forced to work in high uncertainty conditions, thanks to the professionalism of our team, we succeeded in organizing cash flow and managing credit risks, while maintaining profitability. We have gained valuable experience of remote work and new working skills in emergency conditions, which will enable us to increase the efficiency of our team also in the future.  Our staff has successfully adapted to these new conditions, focusing on providing high quality of client service, reacting quickly, and improving the offer of products in line with the new situation.”

On 6 November 2020 Latvia reintroduced the state of emergency and set several new restrictions. Given the new situation, we have reassessed the credit risks of consumer loans, and improved the operation of our e-shop in the pawnshop segment.

Ivars Lamberts, JSC DelfinGroup Managing Board member, adds:

“In the fourth quarter of 2020, the turnover of the e-shop has grown by 231% on the quarter before and by 438% on the same period of the previous year. The investments made in the development of the e-shop in 2019 have fully paid off, making it an important channel of selling pawnshop goods, the importance of which will increase in the future.”

In the second half of 2020, the lending company reports the continuous adaptation to the emergency situation and implementation of several measures aimed at developing sustainable business. In the fourth quarter of 2020 DelfinGroup launched a new consumer loan product, “Banknote pirkumiem” (Banknote for purchases). The company shared that this product aims to facilitate financing of goods, both online and at points of sale. Four new pawn shops were opened in Riga.

In the fourth quarter of 2020, DelfinGroup fully redeemed a bond issue worth €3.5 million (ISIN LV0000801322). The group also paid out quarterly dividends in the amount of €1 million in line with its dividend policy. At the end of 2020, the group held funds in the amount of  €4.6 million.

The group achieved the following financial results in 2020


€ (M)

YOY change (%)

Net loan portfolio


+ 9.0



+ 19.3

Profit before taxes


+ 2.2

Net profit


 –  7.9%


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.

Since its inception, the company has issued €303 million and the client base has reached close to 400 000 customers.

The current outstanding DelfinGroup’s portfolio on Mintos is €15 616 582. There are 78 813 investors with active investments in DelfinGroup loans with an average investment of €198 per investor.


View an unaudited consolidated DelfinGroup report for 2020.

View an investor presentation on the results of DelfinGroup operations in 2020


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