Home » Robocash Group sees a 127.8% increase in net profit for 9 months in 2022
Singapore-based FinTech holding Robocash Group has published financial highlights for the 9M 2022. The revenue for the nine-month period reaches 346.8 M USD. Meanwhile, the net profit has jumped to 43.5 M USD, poised to continue the upward momentum.
Singapore | October 26, 2022 — Robocash Group continues to outpace its own operational and financial results for 2021. For the nine-month period of 2022, the Group issued USD 881.7 M worth of loans, 61.1% more than the same period of 2021. It also exceeds the amount disbursed in the entire 2021 by 10.5%.
The revenue for the period amounted to USD 346.8 M, up by 52.4%. Net profit has seen a significant rise in the 3rd quarter, now reaching USD 43.5 M as of September 30th, 2022. Compared to the same period a year prior, the Group has seen a soaring increase of 127.8%. Moreover, the budget estimates for Q3 2022 have been over-fulfilled by 2.6 times.
The management attributes this result to various optimisations in business processes across local markets. Spain and Kazakhstan were stand-outs in terms of over-fulfillment of the Group’s net profit plans. It was achieved primarily due to improvements in the collection process and better portfolio performance.
“When we talked about our results for H1 2022, improving the Group loan portfolio was one of the key areas of focus for the remainder of the year. Now, a few months later, we can observe the results of this decision, having already exceeded the Group’s plan for net profit in 2022 by 31.7%. Now we strive to maintain this momentum. We will continue to grow our active client base, both in number and quality. Naturally, we will also keep a close eye on the product unit economics”, Robocash Group CEO Natalya Ischenko said.