DGAP-News: Ferratum Capital Germany GmbH: Ferratum Group publishes Q1 2021 results
Ferratum Capital Germany GmbH: Ferratum Group publishes Q1 2021 results
12.05.2021 / 07:30
Ferratum Group publishes Q1 2021 results
Helsinki, 12 May 2021 - Ferratum Oyj (ISIN: FI4000106299, WKN: A1W9NS) ( Ferratum or the Group ) announces unaudited results for the first 3 months ended 31 March 2021 ( Q1 2021 ).
Financial Highlights
- Market conditions affected by COVID-19 related lockdowns and decreased loan demand
- Solid start into 2021 reaching an EBIT of EUR 5.4 million; credit losses remained well under control
- Launch of SweepBank with continued strong increase in revenues: y-o-y +79.3%
Key Figures, EUR million
-0.01
-0.01
-0.39
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
-0.01
-0.39
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.
DGAP-News: Ferratum Oyj: Ferratum Group publishes Q1 2021 results
Ferratum Oyj: Ferratum Group publishes Q1 2021 results
12.05.2021 / 07:30
Ferratum Group publishes Q1 2021 results
Helsinki, 12 May 2021 - Ferratum Oyj (ISIN: FI4000106299, WKN: A1W9NS) ( Ferratum or the Group ) announces unaudited results for the first 3 months ended 31 March 2021 ( Q1 2021 ).
Financial Highlights
- Market conditions affected by COVID-19 related lockdowns and decreased loan demand
- Solid start into 2021 reaching an EBIT of EUR 5.4 million; credit losses remained well under control
- Launch of SweepBank with continued strong increase in revenues: y-o-y +79.3%
Key Figures, EUR million
-0.01
-0.01
-0.39
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
Fitch upgrades Bulgaria s UniCredit Bulbank to BBB- , outlook stable Author: UniCredit Bulbank / All rights reserved.
SOFIA (Bulgaria), May 10 (SeeNews) - Fitch Ratings said that it has upgraded the Long-Term Issuer Default Rating (IDR) of Bulgaria s UniCredit Bulbank to BBB- from BB+ with a stable outlook.
Fitch has decided to equalise the ratings of UniCredit Bulbank and its parent - Italy s UniCredit, as it now sees a strong chance that UniCredit will provide support to its unit given that they share a common regulator after Bulgaria s entry to the Banking Union, and that UniCredit Bulbank was included in UniCredit s single point of entry (SPE) resolution group, the ratings agency said in a statement last week.
The Outlook on the Long-Term IDR is Positive.
Fitch has also upgraded NBG’s long-term senior preferred (SP) debt rating by one notch to ‘CCC’ from ‘CCC-‘ following the upgrade of the bank’s Long-Term IDR.
The rating actions reflect NBG’s improved asset quality and capital encumbrance from unreserved impaired loans following the major off-loading of impaired loans from its balance sheet and our expectation that the bank will continue its de-risking strategy.
The rating actions are taken as part of a peer review of the Greek banks.
The National Bank of Greece.
The Positive Outlook reflects Fitch’s expectations of additional improvements in NBG’s credit profile driven by an acceleration of its asset-quality clean-up in 2021 and 2022 while maintaining stable capital ratios.