NordCard: Audited financial report for 2022

NordCard shares their audited annual report for 2022, and more details about the growth of the company and the management decisions that led to a positive financial result.

Some of the more important highlights of 2022:

  • With the purpose to stabilize the business indicators of the company and the interest income, NordCard has improved its policies for granting new loans and debt collection, which leads to a positive net financial result for
  • The net profit of NordCard is reinvested back into the company and it covers accumulated losses from previous years.
  • NordCard maintains very good levels of liquidity in 2022, and the total liquidity ratio reached 6.07 by the end of the year.
  • The managed by the company loan portfolio has increased with 22% and it reached €3.4M with the help of P2P platforms, including iuvo.
  • There is no significant drop in borrower’s solvency, nor is it predicted one in 2023 because of the improved policies for granting new loans and debt collection.
  • The Latvian company continues to not be affected by the current geopolitical conflict, as it has no partners from the affected region and it does not plan on having such.

See the audited report of NordCard for 2022 HERE.

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