November 17 (SeeNews) - Estonia-based fintech company IuteCredit said it booked 13.6 million euro ($15.4 million) in interest income from its Albanian operations in the first nine months of 2021, up 16.5% year-on-year.
The net loan portfolio of IuteCredit Albania amounted to 37.3 million euro at the end of September, up from 30 million euro at the end of December 2020, IuteCredit said in an interim financial statement on Tuesday.
IuteCredit Albania's loan applications approval rate increased by 15.9% in the first nine months of 2021, compared with the same period a year earlier.
Tallinn-headquartered IuteCredit is a microcredit and fintech company offering unsecured consumer loans with maturities between 1 and 36 months and car-secured loans with a maturity of up to 60 months. It is offering installment loans, in which the principal, interest and other fees must be repaid monthly according to a mutually agreed schedule.
The company also operates in Bulgaria, Bosnia and Herzegovina, Moldova and North Macedonia.
($ = 0.8839 euro)