NordCard with positive growth trend 2022

NordCard shares information about their results in 2022. It is observed that the company follows a positive growth trend.

• The company’s loan portfolio grows significantly in 2022 by reaching €3,319,554, which is growth of 48% compared to 2021;
• The realized net revenue for 2022 follows the growth of the portfolio and it is on the amount of €1,040,822, which is 27% growth compared to 2021;
• In 2022, the company successfully optimizes their portfolio management expenses as a percent of the net revenue – 45% compared to 2021 when this percent is significantly higher – 53%, and as a result, there is an overtaking growth in the brute profit of the company, which increases with nearly 50% for the period;
• There is a reduction in the company’s administrative costs and sales costs, which, in combination with the reduced portfolio management costs, improve the company’s financial results. The net profit in 2022 is now positive and amounts to €62,375 compared to the realized loss of €73,569 in 2021.

NordCard offers the investor on iuvo loans in score class A, with interest rates between 8.5% and 10% on annual basis, as well as buyback on both principal and interest.

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