Ocean Credit with improved results in 2022

2022 marks a turning point for Ocean Credit. The company laid the foundation for solid future growth by investing in their team and new product development. Ocean Credit attracted financing of €1.84 million, which they used to expand their business.

Ocean Credit’s new online platform offers their customers the fastest loan flow on the non-banking market in Romania and the most comfortable lending experience.

The company also launched a new product, which they planned for several years and it is designed to differentiate Ocean Credit on the market and bring more comfort to the customers who use fast loans.

The number of loans originated in 2022 increased by 15.3%. Approximately 32% of the loans were distributed to new customers and 68% were loans to existing customers.

The volume of originated loans increased by 34.4%, and microcredit income increased by 100%. With the launch of the new product with longer maturity and the increased volume of loans granted, the gross loan portfolio increased by more than 116%.

The success of digital marketing tools and the network effect is reflected in the increase of new customers by 51.5% compared to 2021.

In terms of loan portfolio quality, the share of regularly performing loans was over 70% of the gross loan portfolio as at 31.12.2022.

Revenues have marked significant increases and Ocean Credit marks a net profit of 192,022 RON for 2022.

Ocean Credit’s core market strategy is to attract long-term retention customers through the use of in-house developed and fully automated processes. The company aims to maintain and optimize the customer retention factors that have ensured such high return rates and to accelerate the pace of attracting new customers through the continued implementation of integrated product development and digital marketing strategy, and to have a double increase of the gross value of Ocean Credit’s loan portfolio in 2023.

You can find the Annual report of Ocean Credit for 2022 HERE.

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