IuteCredit's 2023 interest income in N. Macedonia up 21% y/y

The net loan portfolio of IuteCredit Macedonia amounted to about 30.2 million euro at the end of 2023, up from 27.6 million euro a year earlier, IuteCredit said in an annual financial statement earlier this week.

IuteCredit Macedonia's loan applications approval rate was 62.5% at the end of 2023, slightly lower compared with 64.6% at the end of 2022.

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 Albania.

($ = 0.924 euro)