Alfa Finance SIA is publishing its unaudited 2019 results

The management of SIA Alfa Finance (hereinafter – the Company) has prepared unaudited financial statements for the period from 1st of January, 2019 to 31st of December, 2019. Currently the Company is undergoing audit process and expects it to be completed till 1st of May, 2020 with no expected material changes. Here you can find the Alfa Finance Unaudited statement 2019.

Business profile

The Company is a parent company of Alfa Finance Sp.z o.o. that is issuing unsecured consumer loans in Poland with the brand name TaniKredyt.pl and DoFinance SIA which is offering its customers possibility to earn competitive returns by investing in peer-to-peer platform DoFinance.eu.

Company is providing services also to a related company Alfa Fintech PTE Ltd and its subsidiary PT.Alfa Fintech Indonesia that is offering unsecured consumer loans in Indonesia with the brand name KreditCepat.co.id (hereinafter all together – the Group).

The Company operates as a provider of competence in major business areas of the Group such as information technologies, risk management, marketing, and human resource development.

Financial performance of the Company

The Company reported steady growth of sales and stable profitable performance during year 2019. Its net profit has doubled in comparison to year 2018 and reached 283thou EUR.

The Company has introduced several tools and procedures for risk assessment and mitigation for financial risks, including credit risk, liquidity risk, and currency risk. These tools include real-time monitoring, reporting, and early warning systems that show deviations from plans and discrepancies.

The Company has maintained focus on product improvement and continuous development of risk assessment tools and procedures.

Key developments in 2019 were following:

  • Implementation of state-of-art anti-fraud tools based on machine learning and AI powered face recognition,
  • Strong emphasis on integration with the new credit history information databases,
  • Development of new partnerships with companies providing data for behavior analysis,
  • Automation of underwriting and collection processes introducing advanced tools in credit decision making, predictive dialer for communication, new payments processing solutions.

The abovementioned activities help to raise the quality of the services for both borrowers and investors and improve credit quality of Group companies loan portfolios.

Future developments

In the 2020 the Company will:

  • Proceed with obtaining licence for DoFinance peer-to-peer operations in accordance with regulations of Investment Brokerage firms in Latvia and in accordance with consultations with the Financial Supervisory Body of Latvia;
  • Develop new products for all markets and introduce longer term products with lower interest rates as well as new productive loans.
  • Continue development of strong risk management tools for continuous loan quality improvement – cornerstone for more affordable lending products to Groups loan originators.

If you have any questions about your investments, reach us at info@dofinance.eu or chat with us on our website.

Sincerely,

Niklāvs Macko

Group Chief Operations Officer (COO)/Chief Financial Officer (CFO)

Comments

comments

Scroll to Top