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SouthState Corporation Reports Second Quarter 2021 Results
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Investegate |Non-Standard Fin Announcements | Non-Standard Fin: Audited full year results to 31 December 2020
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Commenting on the results, Pierre Guy Noël:-
“Group attributable profits for the nine months ended March 2021 reached Rs 6,066 million, similar to the level achieved last year, with domestic banking contributing 39% thereof. Profits increased significantly in the third quarter of the current financial year, up from Rs 827 million for the three months to March 2020 to Rs 2,282 million for the quarter to March 2021. Thiscontributed to the reversal of the 28.1% contraction in profits recorded for the six months to December 2020. The outbreak of the Covid-19 pandemic at the beginning of 2020 significantly impacted the third quarter results of the last financial year with a higher level of Expected Credit Losses and fair value losses incurred on the Group’s equity investments during that quarter.
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.
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