iute Group Delivers Strong Results in 2023: Steady Growth and Innovation in Personal Finance

The European microfinance company iute Group has presented its unaudited results for 2023, highlighting significant growth and a continued focus on innovation and quality customer service. In a period marked by rapid economic and technological changes, iute Group has managed to consolidate its position in the European market by adapting to the demands and needs of its customers in a constantly evolving environment. According to the report, the number of iute Group’s active customers has risen to 274,000, while revenue per customer has seen a significant increase, reaching €370 in the past year, compared to €343 in the previous year. Furthermore, the total number of customers has increased by 10.3% and is now estimated at approximately 1.1 million.

Another notable achievement was the increased usage of the Myiute app, which had been downloaded 813,000 times by the end of 2023. This reflects iute Group’s ongoing efforts to integrate digital technologies to enhance the customer experience and provide modern financial solutions. Operationally, iute Group reported growth in loan repayments and its gross loan portfolio, indicating a strong increase in customer confidence in its financial services. As a result, iute Group recorded a 20.1% increase in total revenue, reaching €105.7 million, and a net profit of €10.3 million. Notably, this result was achieved despite multiple unforeseen disruptions and exchange rate fluctuations.

Tarmo Sild, CEO of iute Group, emphasized the importance of adaptability and customer focus in an ever-changing business environment: “Our company’s ongoing commitment to innovation and quality, as well as our goals for 2024, include expanding our business operations into at least one additional country and achieving a consolidated net profit of over 15 million euros.”

Sergiu Sobuleac, CEO of iute Moldova, also commented: “The iute Group’s solid results for 2023 reflect our ongoing commitment to improving the quality of the services we offer our customers. In Moldova, we strive to work with the same dedication and to create modern financial solutions tailored to local needs. We are determined to remain at the top of the industry, to innovate and constantly improve, in order to offer our customers exceptional financial experiences and to contribute to the sustainable development of our community.”

The 2023 report reflects iute Group’s ongoing commitment to operational excellence, innovation, and quality customer service, further solidifying its position in the microfinance sector in Europe.

About iute Moldova: iute Moldova is part of Estonian Fintech, which operates in four European countries: Moldova, Albania, North Macedonia, and Bulgaria. iute, the fastest non-bank lending institution in the Republic of Moldova, is the first microfinance company to offer customers a network of cardless ATMs, as well as the option to insure loans in the event of an accident. iute’s reputation and customer support strategy has been and remains focused on the digitization of all services offered, with the fastest method of obtaining personalized loans being the Myiute mobile app. Beyond its financing activities, iute Moldova is actively involved in community development through charitable activities and civic support.