Bulgaria’s ITF Group to focus on domestic growth in 2023-2024

The international expansion will follow when the ITF reaches a certain degree of development in Bulgaria, the CEO said during the discussion on Wednesday.

The company first aims to develop a portfolio of products in order to become sustainable in the long term. ITF is currently active in the area of consumer credits, planning to also enter the segment of small and medium enterprises (SMEs) financing.

Regarding 2022, the firm expects a 70% rise in revenue, while its net profit is expected to increase more than five times. Granted loans are seen to rise by 90% year-on-year.

While aiming at significant growth over the next two years, ITF intends to become dividend-oriented company after that, Angelov added.

The company will conduct its planned IPO in two trading sessions on December 7 and December 8, seeking to raise a total of up to 3.01 million levs ($1.61 million/1.54 million euro). ITF will offer a total of 700,000 shares at a price of 4.30 levs each.

(1 euro = 1.95583 levs)