Continued cautious underwriting approach in the Ferratum tribe and a controlled increase of the Group's risk appetite in its core products SweepBank and CapitalBox
In Q1 2021 the Group's financial performance and results remained affected by the COVID-19 pandemic. The company continued with its cautious sales and scoring approach in the Ferratum (Near Prime) tribe, in which the Group has, as a reaction to the COVID-19 pandemic, reduced its lending activities since Q1 2020. The Group has selectively increased its risk appetite and marketing activities in the SweepBank tribe which includes Primeloan and the Mobile Wallet as well as in CapitalBox, the Group's SME lending unit. SweepBank and CapitalBox which both have shown substantial growth since Q2 2020 accounted already for 29.8% of the Group's net receivables with EUR 115.4 million at end of Q1 2021.