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In 2024, Easy Asset Management AD, operating under the Easy Credit brand, retained its leading role in the non-bank consumer lending sector in Bulgaria. The company, part of MFG, continues to develop its business model for home-collected loans both through a wide sales network in the country and through the digitalization of processes. The company operates through 215 offices and 2,249 credit consultants, serving clients in over 1,200 settlements in the country.
Data from Easy Credit’s individual audited report shows that as a result of active commercial activity and an expanded product portfolio, new loans granted in 2024 amounted to €137M, which is an increase of 15.5% compared to 2023 (€118M). The receivables collected reached €191M (+14.2%), and the gross loan portfolio increased by 13.9%, reaching €54M.
The company continues to invest in digitalization and technological solutions that improve risk assessment, collection and customer service processes. This strategy, combined with a stable organizational structure, ensures high operational efficiency and good cost control. The combination of expanding the loan portfolio, optimizing internal processes and maintaining high collection rates has allowed Easy Credit to achieve stable revenue growth and asset growth in 2024.
In 2024, Total Revenues amounted to €66.5M, with the main source being Interest, Fees and Penalties Income – €23.5M, which represents an increase of 26.8% compared to 2023. Additionally, Commission and Other Fees Income reached €36.7M, which reflects the company’s active participation in joint products and services with subsidiaries. In 2024, Easy Asset Management AD had Dividend Income of €6.8M received from subsidiaries.
On the expense side, in 2024 Total operating expenses increased to €56.4M, compared to €48.3M a year earlier (+16.83%). Despite the increase in expenses, the company maintained a positive financial result, with Net Profit amounting to €5.9M. In comparison, in 2023 the company reported a Net Profit of €10.2M, with the lower result in 2024 being due to one-off effects, including Loss on sale of a subsidiary (€1.02M), and increased Financing Expenses (€3.2M in 2024 compared to €1.8M in 2023).
The consolidated financial statements of Easy Asset Management AD also include information about the company’s subsidiaries, including the originators Kredis and Mi Prestamo.
In 2024, the Easy Asset Management Group and its subsidiaries continue to strengthen their positions as a leading player in the non-bank lending market in Bulgaria and the region. Here, there is also an increase in the number of loans granted, an expansion of the client base and effective management of receivables are observed, which leads to a growth in revenue by 14.33% compared to the previous year. Operating income amounted to €165.4M. The main share in the revenue structure is occupied by Income from interest, fees and commissions, amounting to €150.8M, which represents 91.17% of total revenue.
The consolidated financial results of the Easy Asset Management Group for 2024 show stable revenue growth, but a decrease in profit is observed. EBITDA decreases from €32.44M in 2023 to €16.77M in 2024, and Net Profit from €26.6M in 2023 to €12.9M in 2024. The main factors behind this are the increasing number of employees, administrative and interest expenses, as well as one-off effects of €7.3M related to the sale of a subsidiary of Management Financial Group AD in August 2024.
The total assets of the Easy Asset Management Group increased by 21.94%. Cash increased significantly by 162.89%, which improves the liquidity position and financial flexibility of the Group. The Group’s equity reaches €132.74M and represents 62.52% of the Total Assets.
See Easy Credit’s individual audited report HERE.
See Easy Credit’s consolidated audited report HERE.
