Iute Group Reports Steady Growth in 9M/2024 Financial Results

Iute Group has unveiled its unaudited financial results for the first nine months of 2024, highlighting a stable transition toward modern banking across Southeastern Europe. The company saw an 8.7% increase in its consolidated balance sheet, reaching 408.5 million EUR, with equity rising 13.0% to 72.1 million EUR.

The Group's customer base grew to 1.17 million, with active customers slightly decreasing to 266 thousand, while revenue per customer increased to 410 EUR. The gross loan portfolio saw an 18.8% increase, amounting to 299.3 million EUR, indicating success in expanding and maintaining quality in their clientele.

While revenue increased by 6.1% to 83.7 million EUR, the Group's net profit fell to 7.5 million EUR, affected by growing marketing and operational costs. Iute Group continues to face challenges like enhancing profitability amidst fierce market competition and evolving customer needs.