July 4 (SeeNews) - Bulgarian pawnshop chain operator Sofia Commerce-Pawn Brokerage [BUL:SCOM] said that its board has approved the registration of a subsidiary in North Macedonia named Makkom Cash Skopje.
Under a decision of the parent company's board from end-June, the subsidiary will have a registered capital of 5,000 euro ($5,230), Sofia Commerce-Pawn Brokerage said in a stock exchange filing.
As a financial intermediary, Makkom Cash Skopje will be active in provision of cash loans, secured by a pledge of movable property, as well as in transactions with precious metals, precious stones and related products.
Sofia Commerce-Pawn Brokerage operates a chain of over 100 pawnshops in Bulgaria. Last year, its consolidated net profit rose to 2 million levs ($1.1 million/1.0 million euro) from nearly 1.6 million levs in 2020, despite a drop in revenue and chiefly on the back of lower expenses.
(1 euro = 1.95583 levs)