Access Finance share their Audited Financial Report for 2022.
The company managed to strengthen its market positions despite the insecure microenvironment and increasing competition in the sector.
In 2022, the company worked towards reaching an increase of average drawdowns per loans granted, which increased by 28%.
The gross loan portfolio reached 60.25M BGN (or 30.83M EUR) and grew by 16% compared to 2021.
Revenues increased by 18% to 48.68M BGN (24.9M EUR). Income from interest, fees, and penalties grew by 22%.
Operational costs moderately increased by 3% and impairments costs increased by 69%, which were the main cause of the decrease of 4% in net profit. The net profit for 2022 of Access Finance is 6.54М BGN (3.34M EUR).
The company maintains liquid assets at all times, sufficient to meet the demand for loans and cover current payments.
Access Finance manages the risk of customers’ default through strict procedures for analysis and evaluation of potential borrowers, including scoring procedures and detailed verification of the provided data. The company operates an effective system for monitoring of payments and active measures for collection of receivables, and also closely monitors the exposure to credit risk at each stage of the credit process.
In 2023, Access Finance will focus even more on customer satisfaction and more specifically on loyal customers. The company plans to launch new credit products, initiatives and programs for recurring customers.
Get familiar with the Audited Financial Report of Access Finance HERE.