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Robocash Group sees a 127.8% increase in net profit for 9 months in 2022

James Albert by James Albert
October 26, 2022
in Press Releases
0

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.

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“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.

James Albert

James Albert

James Albert is a personal-finance analyst for FintechZoom and is based in New York. Contact: [email protected]

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