The results for the Q3 of 2021 are outstanding, and it’s expected to finish this year with a record-high profit.

In the first 3 quarters of 2021, CreamFinance Group has continued to bounce back from the Covid induced slump in 2020 and is on track to reach record profits in 2021. The exceptional results have been achieved by constant top-line growth month-on-month since the first COVID wave, together with improved risks results and cost-cutting measures. Increased issuance in most countries has led to the growth of the total net portfolio, as CreamFinance group issues around 15m Eur per month compared to only 8-9m in 2020. However, the adjusted scoring cutoffs have improved the portfolio’s risk profile, with risk costs dropping from 43% of the revenue in 2020 to 33.4% in 2021.

The main contributors to improving Group results are CreamFinance Poland and the Czech Republic, posting solid results throughout the year. Countries like Spain and Mexico are also recovering quickly from COVID-related drops of issuance and are on track to reach the previous levels by the end of 2021.

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