Robocash reports 127pc profit increase in YTD
Robocash Group – the parent company of Croatia-based peer-to-peer lending platform Robo.cash – has reported a 127.8 per cent profit increase for the first nine months of 2022.
Net profits have risen to $43.5m (£37.63m) while the group has earned $346.8m in revenue over the same period, representing a 54 per cent year-on-year rise.
During the first three quarters of 2022, the Robocash Group issued loans to the value of $881.7m, a 61.1 per cent increase on the same period of 2021.
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The company’s management said that this stellar year-to-date performance was due to “various optimisations in business processes across local markets”.
Spain and Kazakhstan were particularly profitable markets, outperforming the group’s expectations significantly. This was primarily due to improvements in the collection process and better portfolio performance, Robocash said.
“When we talked about our results for [the first half of] 2022, improving the group loan portfolio was one of the key areas of focus for the remainder of the year,” said Robocash Group chief executive Natalya Ischenko.
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“Now, a few months later, we can observe the results of this decision, having already exceeded the Group’s plan for net profit in 2022 by 31.7 per cent.
“Now we strive to maintain this momentum. We will continue to grow our active client base, both in number and quality. Naturally, we will also keep a close eye on the product unit economics.”
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