Banks, Financial Services, Latvia
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Wednesday, 08.05.2024, 04:07
Citadele Bank grants EUR 3 mln credit facility to Mogo non-bank lender
BC, Riga, 05.08.2019.
Print version
Print versionCitadele Bank has granted a EUR 3 mln credit facility to non-bank lender Mogo, according to a report to Nasdaq Riga.
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The credit facility has been provided for refinancing Mogo’s
existing debts. The agreement expires on July 1, 2021.
In 2018, Mogo and its subsidiaries raised their
consolidated turnover by 45.6% y-o-y to EUR 18.795 mln, while consolidated
profit contracted 20.3% to EUR 2.83 mln, according to an audited financial
statement submitted to Nasdaq Riga.
The parent company turned over EUR 18.795 mln and generated
a profit of EUR 3.061 mln in 2018.
Established in 2012, Mogo offers classical finance
lease and lends against vehicles already owned by clients (a type of service
known as leaseback). The company's bonds are listed on the Nasdaq Riga debt
securities list.
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