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NordCard with a positive trend in growth as of Q3 2022

NordCard present information regarding their financial results and key business indicators for the third quarter of 2022.

  • The company has a positive development trend in 2022 and realizes growth in net income as of Q3 2022, which is in the size of 769 000 EUR and is around 94% from the income for the entire 2021.
  • Our partners from Latvia register growth in loan portfolio with nearly 20%, as it grows from 2 710 000 EUR to 3 267 000 EUR.
  • Iuvo Group continues to be a main partner of the company and it provides around 70% of the entire external financing, supporting the growth of the company.
  • The cost optimization of NordCard also contributes for the positive financial results.
  • According to the provided by the company information as of 30.09.2022, the rate of non-performing loans is 2%.

See the financial results of NordCard as of Q3 2022 HERE.

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