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The company has registered growth of 20% in the loan portfolio it manages, the latter having grown from EUR 4.46 million in 2022 to EUR 5.35 million in 2023.
AXI Card Spain continues to follow a very conservative provisioning policy, and for 2023 the accrued provisions amount to EUR 2.3 million, which is about 44% of the gross value of the managed portfolio.
The company continues to be in a loss mainly due to the fact that it is new to the market and has been operating in it for about two years. Regardless of this, however, in 2023, the positive effect as a result of the increased loan portfolio and the yield obtained from it can already be observed, and for 2023 the loss is about EUR 930k less compared to 2022.
The activity of AXI Card Spain is mainly financed by the parent company Access Finance, which in 2023 continues to support the development of the company’s portfolio with financial resources. In addition, the loans on the iuvo marketplace are fully guaranteed by Management Financial Group (MFG), with an additional guarantee in the form of a co-debt from Access Finance.
SEE HERE the audited report of AXI Card Spain.
