Post by uriah on Jul 19, 2020 12:11:12 GMT
To Our Valued Investors and Partners,
The defining event in 1H2020 has been COVID-19. Our priority has been to ensure the safety and well-being of our employees and other stakeholders, while at the same time maintaining the highest service delivery standards.
We continued to be fully operational 24/7 throughout this challenging period, modifying local and global processes to guarantee our employees´ safety. Our infrastructure is fully capable of supporting remote working, while continuing to maintain security, confidentiality, and business performance. Our customer support included credit holidays for those in financial difficulty.
Against this backdrop of health and economic uncertainty, we optimised our cost base and strengthened lending criteria. Revenue and income continued to grow, while loan portfolio quality improved. Our successful adaptation to the changing environment is proof of a robust business model and determined execution.
We are also in a stronger financial position, with increased equity, longer term debt and a high cash liquidity buffer. We are now seeing a gradual market recovery and expect to increase lending volumes in 2H2020. However, we intend to maintain strong credit criteria and continue to focus on operational efficiency and profitability.
At ID Finance we are committed to building a sustainable and transparent business. We will hold a webinar on Thursday July 23d at 4pm CET. Boris Batine, CEO and Со-Founder at ID Finance, will cover the following topics and answer any of your questions:
Join us at the webinar by following this link.: zoom.us/webinar/register/WN_vbi__ikuQLaFSTYn5QZpxA
You can also send your questions ahead of the webinar to ir@idfinance.com.
These uncertain times have not affected our dedication or commitment. More than ever, we are committed and extremely proud of how our employees have risen to this challenge. We wish you, your families and loved ones, and everyone at your company, good health and continued success. Thank you for your business and partnership.
Boris Batine
CEO and Со-Founder
ID Finance
The defining event in 1H2020 has been COVID-19. Our priority has been to ensure the safety and well-being of our employees and other stakeholders, while at the same time maintaining the highest service delivery standards.
We continued to be fully operational 24/7 throughout this challenging period, modifying local and global processes to guarantee our employees´ safety. Our infrastructure is fully capable of supporting remote working, while continuing to maintain security, confidentiality, and business performance. Our customer support included credit holidays for those in financial difficulty.
Against this backdrop of health and economic uncertainty, we optimised our cost base and strengthened lending criteria. Revenue and income continued to grow, while loan portfolio quality improved. Our successful adaptation to the changing environment is proof of a robust business model and determined execution.
We are also in a stronger financial position, with increased equity, longer term debt and a high cash liquidity buffer. We are now seeing a gradual market recovery and expect to increase lending volumes in 2H2020. However, we intend to maintain strong credit criteria and continue to focus on operational efficiency and profitability.
At ID Finance we are committed to building a sustainable and transparent business. We will hold a webinar on Thursday July 23d at 4pm CET. Boris Batine, CEO and Со-Founder at ID Finance, will cover the following topics and answer any of your questions:
- How we responded to the COVID-19 crisis and lessons learned
- Overview of 1H2020 results
- Outlook for 2H2020
- Q&A
Join us at the webinar by following this link.: zoom.us/webinar/register/WN_vbi__ikuQLaFSTYn5QZpxA
You can also send your questions ahead of the webinar to ir@idfinance.com.
These uncertain times have not affected our dedication or commitment. More than ever, we are committed and extremely proud of how our employees have risen to this challenge. We wish you, your families and loved ones, and everyone at your company, good health and continued success. Thank you for your business and partnership.
Boris Batine
CEO and Со-Founder
ID Finance