IDF Eurasia Kazakhstan reports record net income in 2019

19.06.2020

mintosblog

IDF Eurasia Kazakhstan businessTOO OnlineKazFinance (“Solva”, “We”, the “Group”, the “Company”)  Kazakhstan’s leading alternative, non-bank lending provider, today announces its IFRS financial results for twelve months ended 31 December 2019.

  • Net income of € 3.3 million with 35.4% net interest margin (NIM)
  • – Operational profit of € 5.1 million in 2019, from € 467 000 in 2018
  • Total revenue growth of 230% to € 13.4 million) in FY’19
  • Net loan portfolio growth of 234% in 2019 reaching € 42.7 million)
  • Over 644 thousand new unique clients added in 2019
  • – The return on equity (ROE) in 2019 reached 55%

Boris Batine, the Founder of IDF Eurasia, commented:

“I am happy to highlight that 2019 was a break-through year for Solva.kz in both growth and profitability. Achieving over 200% growth, whilst maintaining a high profitability level is an exceptional result, which underlines the strength of our business model. We saw 644 thousand of new credit requests in 2019 with net loan portfolio rising 234% as compared to 2018. In the course of scaling the business, the Company managed to keep the loan book quality under control with non-performing loans (60 days+) in the range of 5% to 10% depending on the client risk category. We had been using the mix of online and offline client acquisition channels to ensure the widest distribution of our credit products that are showing one of the highest industry’s NPS score of 73%.”

View full financial report and key insights

About IDF Eurasia

IDF Eurasia empowers the underbanked to become financially included by providing consumer and SME loans in Russia and Kazakhstan. Founded in 2012, the company is challenging the status quo of the lending space through cutting edge financial technology and customer-centric approach. Currently, IDF Eurasia serves more than 8 million clients by having sustainability of business, responsible lending and financial inclusion at the very core of our business mission.

Investor Relations: Ivan Savelyev, [email protected]

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