Riga, 2017-04-27 11:04 CEST (GLOBE NEWSWIRE) -- In the first quarter of 2017 Capitalia reported total revenues of EUR 293 thousands, which is an increase by 45% compared to the respective period in 2016. In the current period we achieved EUR 32 thousands profit that more than covers losses of the previous year. The first few months of 2017 were difficult for a number of our clients and as a result our provisions for loan losses increased higher than expected. However, by the end of the March most of our clients in difficulties have manage to stabilize their situation and return to regular payment schedules.
For the following three months the key focus of Capitalia will be to grow loan portfolio in all of the Baltic States. We have successfully issued and are continuing to offer our bonds to investors. We want to make sure that any new resources acquired from the sale of the bonds are distributed towards financing to small businesses as soon as possible. We are also very eager to soon launch our own crowd-financing platform. We will be the first specialized pan-Baltic platform that will offer businesses to attract mezzanine loans of up to EUR 1m through crowd-funding.
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Capitalia is the largest non-bank lender to small and medium enterprises in Latvia, Lithuania and Estonia. To date Capitalia has financed working capital and investment needs of more than 1000 companies investing over EUR 20 million in growth of these businesses.
Juris Grišins
Manager
Email: juris.grisins@capitalia.com
Phone: +371 2880 0880
www.capitaliafinance.com
