ID Finance Spain announces results for 1H2020 and invites to a webinar

ID Finance Spain recently announced its financial results for the 6-month period to 30 June 2020 (1H2020):

  • Revenue up 62% to €31.4 million 
  • Issuance up 21% to €51.9 million 
  • Operating profit up 55% to €5.9 million 
  • Net profit up 64% to €2.3 million 
  • Equity ratio increased to 24% 

Throughout the challenging 1H2020 the company continued to be fully operational and achieved revenue of €31.4 million, an increase of 62% compared to the 6-month period to 30 June 2019 (1H2019). Operating income for the same period increased by 55% to €5.9 million and net income was up 64% to €2.3 million. The net profit margin was stable at 7.2%. 

Boris Batine, Co-founder and CEO at ID Finance, commented: 

“These strong results against a backdrop of health and economic emergency demonstrate the resilience of the ID Finance business model and determined strategy execution. We successfully adapted to the changed environment and have been able to maintain profitability and portfolio quality despite economic uncertainty. Furthermore, our balance sheet strengthened, with equity now representing 24% of assets. This is a strong affirmation for our growth plans to launch new products.” 

Review of Operations 

The defining event in 1H2020 was COVID-19. In Spain, the Government declared a state of alarm on 14 March 2020 and adopted urgent measures to tackle the economic and social impact of COVID-19, including a moratorium on non-mortgage loans. The company continued to operate and offered support to its customers through COVID-19, including credit holidays for those in need. Issuance was €51.9m during 1H2020, a 21% increase over 1H2019. 

ID Finance Spain also deliberately strengthened its credit policy. This ensured that there was no deterioration in the quality of the portfolio. In fact, the portfolio quality improved with NPL 90d+ ratio declining from 43.7% to 36.5% of gross portfolio. 

At the same time, the company focused on optimising its cost base. Operating expenditure margin improved from 20.9% of revenue in 1H2019 to 17.6% in 1H2020. 

Solid balance sheet 

The company is in a strong capital position, with €7.7 million in equity. The equity ratio increased over the period from 17.0% to 23.6%. Maintaining a liquidity buffer during 1H2020 was a priority. 

Cash comprised 12.7% of assets as of 30 June 2020. Long-term debt increased from 29% to 41% of debt supporting the long term sustainability of the company’s operations.


Investors on the Mintos platform remain important partners for ID Finance Spain. The company continued to pay interest as normal and serviced its loans in accordance with its obligations. The state of emergency was lifted on 21 June 2020, and the company expects the remaining pending payments as per Mintos statistics page to be resolved within the next month, as the duration of the portfolio normalises.


With the lifting of the state of emergency, ID Finance Spain sees a gradual market recovery. Credit applications were 25% higher in June compared to May and have now returned to pre-crisis levels. The company will start to increase lending volumes again in 2H2020, however, it intends to maintain tighter credit criteria and continue to focus on operational efficiency and profitability. 

ID Finance webinar

On 23 July 4 pm CET, ID Finance will host a webinar to inform investors how the company has navigated the first half of 2020. You can send your questions ahead of the webinar to [email protected]. Please note this webinar will not in any way be organized or monitored by Mintos.

Register for the webinar

About ID Finance 

ID Finance is an award-winning fintech focused on improving financial inclusion. Headquartered in Barcelona, the company provides unsecured consumer lending in Spain, Brazil, and Mexico. The current amount of ID Finance Spain loans outstanding on Mintos is € 11.2 million. There are 71 231 investors with active investments in ID Finance Spain loans, with the average investment per investor being € 19.


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