NEO Finance, AB Announces Sales Results for the Third Quarter 2021
October 15, 2021 at 09:24 am EDT
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NEO Finance, AB announced sales results for the third quarter 2021. For the period, the company reported granted consumer loans for EUR 7.7 million and compared to 2020 Q3, the amount grew by 64%. The intermediary fee is the largest source of income in P2P lending activities. 2021 Third Quarter intermediary fee receivable for newly granted consumer loans amounted to EUR 777,000. This income will be received throughout the loan period. Compared to 2020 Third Quarter achieved 70% growth. The volume of payment initiation services grew even faster – in 2021 Q3, the customers of the company performed 3.99 million transactions. Compared to 2020 Q3, when only 1.64 million transactions were performed. Transaction volume increased by as much as 144%.
NEO Finance AB is a Lithuania-based provider of consumer lending services. The Company operates an online platform that enables investors to earn by investing in Lithuanian consumer loans. The Company has an electronic money institution license, as well as a peer-to-peer (P2P) consumer lending license from the Lithuanian Central Bank. Additionally, the Company also provides provision fund and takes the customerâs risk. Its portfolio includes consumer loans, car loans, refinancing loan and other purpose loans, among others.