Financial Services, Latvia, Loan
International Internet Magazine. Baltic States news & analytics
Thursday, 18.04.2024, 18:23
4finance earns EUR 4.6 mln in Latvia in 2014
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The company earned additional profit in dividends from 4finance Group companies that provide their services in other European countries. The amount of the extra profit will be revealed as soon as the company includes the respective data in its audited financial reports, according to 4finance spokesman Janis Andzans.
4finance operating profit in Latvia last year was lower than in 2013, when the company earned EUR 7.8 million.
"The reduction is mainly due to the implementation of the current crediting restrictions as of January 1, 2014, as well as saturation of the local market. The competition keeps increasing, forcing service fees down as compared with other European countries," the company's CEO Toms Jurjevs says.
4finance Group's turnover in Latvia in 2014 reached EUR 40.9 million. The company paid EUR 8.6 million in taxes.
4finance Group in Latvia has more than 300 employees.
The company currently operates in ten countries. Its headquarters are located in Riga. 4finance offers services to more than four million customers.
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