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Sep 12, 2023 12:18 EEST
September 12 (SeeNews) - Estonia-based fintech company IuteCredit's unit in North Macedonia saw its interest income rise by 41.6% year-on-year in the first half of 2023, to 7.9 million euro ($8.5 million), the parent company said.
The net loan portfolio of IuteCredit Macedonia amounted to about 26.8 million euro at the end of June 2023, down from 27.6 million euro at the end of 2022, IuteCredit said in financial statement last month.
IuteCredit Macedonia's loan applications approval rate was 63.3% at the end of the first half of 2023, slightly lower compared with 63.7% at the end of June 2022.
Tallinn-headquartered IuteCredit is a microcredit and fintech company offering unsecured consumer loans with maturities between 1 and 36 months and car-secured loans with a maturity of up to 60 months. It is offering installment loans, in which the principal, interest and other fees must be repaid monthly according to a mutually agreed schedule.
The company also operates in Bulgaria, Bosnia and Herzegovina, Moldova and Albania.
($ = 0.932663 euro)
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