IuteCredit's interest income in Bosnia down 42% in 2023

The net loan portfolio of IuteCredit BH amounted to 824,000 euro at the end of 2023, down from 4.3 million euro a year earlier, the parent company said in an annual financial statement earlier this week.

In September, IuteCredit said it has decided to withdraw from Bosnia and Herzegovina due to the country's regulatory environment related to digitalisation.

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, North Macedonia, Moldova and Albania.

($ = 0.924 euro)