en 
NordCard shares their audited Annual report with the iuvo investors.
In 2024, The Latvian originator continued to demonstrate strong financial performance and achieved positive profitability. The company’s total revenues reached €1,4M.
This is a result of improved policy of issuing new loans and debt recovery, and improved borrower assessment procedures. Also, various automated customer management tools were introduced by the innovative fintech company, which helped not to increase the number of existing employees with the significantly larger customer portfolio.
The gross profitability of NordCard increased to 67% in 2024 compared to 56% in 2023, and the company maintained a high liquidity ratio, which is thanks to the successfully implemented business strategy and all planned measures.
In 2024, NordCard increased its loan portfolio by 18%. The company ended the year with €0.016M net profit.
Read the full audited report of NordCard HERE. See their updated business presentation HERE.
