Easy Credit: Audited financial report for 2023

In 2023, Easy Credit continues the trend of past years to make its services more and more accessible and convenient for its users. In addition to providing loans throughout the country with the help of over 2,000 credit consultants and nearly 200 offices and covering over 1,200 locations, Easy Credit offers its services through Bulgarian Post and other external partners.

In addition, the company’s clients can now apply entirely online through the company’s website or the Easy Credit mobile application. The partnership with Western Union launched in 2019, on the other hand, allows money to be received from any point in Europe.

In 2023, Easy Credit granted nearly BGN 232 million consumer loans compared to BGN 223 million granted in 2022, with the sums collected for the period amounting to BGN 327 million compared to BGN 319 million for 2022, which is an increase of 2.6%.

There is also growth in the company’s Gross loan portfolio in 2023, as of 31.12.2023 it amounts to BGN 94 million, which is an increase of 4.77% compared to the previous year.

Regarding the quality of the loan portfolio managed by Easy Credit, there is an improvement, and in 2023, 92.5% of all receivables are in the Current category.

The expected credit loss from the portfolio in 2023 is in the amount of BGN 1.18 million, which is approximately 1.3% of the entire credit portfolio. To cover this Loss, the company has set aside provisions of a total value of BGN 1.7 million for the whole of 2023.

As a result of the registered growth in the loan portfolio managed by the company, in 2023 there is a growth in Income from interest, fees and penalties, which amounts to BGN 106 million compared to BGN 100 million for the transitional reporting period, which is an increase of about 6%.

In 2023, Easy Credit ends the year with a Profit of BGN 20 million, which is BGN 5 million less than in 2022 and is mainly due to the decision to distribute less dividend from its subsidiaries.

The company’s equity is BGN 264 million as of 31.12.2023.

See Easy Credit’s audited report HERE.