OREANDA-NEWS. Group has worked successfully over the period from 1 January to 31 December 2014. Total revenue for the period increased by 21% over the 2013 and reached EUR 16 627 992.

Due to implementation of the chosen business strategy, the Group’s financial indicators continued to improve in year of 2014:

-       During the period, the Loan portfolio of the Group has increased significantly – by 28% - and reached EUR 6.2 million;

-       As at 31 December 2014, the amount of the Group’s assets equaled EUR 10.9 million ;

-       Net profit for 2014 was EUR 1 401 563 (2013 EUR 379 116).

During the reporting period, according to the bond issue prospectus, SIA ExpressCredit has elected and registered Council of the Company in the Register of Enterprises of the Republic of Latvia.


During the period from 1 January to 31 December 2014 has continued the work on the branch network to increase efficiency, loan volume increase and IT systems development. As at end of the period, the Group had 93 branches in 38 Latvian cities (31.12.2013. - 93 branches in 38 cities in Latvian).

Group’s risk exposure        

The Group is not exposed to material foreign exchange risk because settlement takes place in euro. The Group has financed assets by bond issue at fixed interest rate, reducing exposure to significant variable interest rate risk. Accurate application of the prudent strategies has allowed the Group to successfully manage its financial risks, particularly, liquidity and credit risk.

Subsequent events

On 12 February 2015, the Group’s parent company and the Riga City council has signed a contract for the purchase of SIA "Riga City Pawnshop" 569 148 (100%) shareholding. The right to acquired shareholding rights have been acquired in the auction process. The purchase price of EUR 880 000 was transferred on 18 February 2015. On 23 February 2015, the transaction was registered in the Register of Enterprises of the Republic of Latvia.

Except for the above, there have been no significant events since the reporting date and the date of signing of the report that could significantly affect the results for the year 2014.

Future prospects

In the year 2015 the Group plans to strengthen market leadership and improve the branch network. It is planned that the company's portfolio and profit dynamics will be with upward trend from year 2014 results.