4finance Holding S.A. Announces First Quarter 2024 Results with Strong Performance

4finance Holding S.A., a leading digital consumer lending group in Europe, disclosed its financial outcomes for the first quarter ending March 31, 2024. The results showed a net profit of €9.6 million and an adjusted EBITDA of €34.9 million, marking a solid start for the year. The company reported a 70% increase in net profit compared to the same period last year.

During this quarter, 4finance managed an interest income rise of 13% year-on-year, reaching €103.9 million. The cost to income ratio improved to 43.3% from 46.0% the previous year. The firm witnessed growth in loan issuance, particularly noticing a 22% increase in TBI Bank's loan outputs. There was also a noteworthy 3% rise in net receivables, totaling €1,120.6 million.

On the liquidity front, 4finance confirmed a robust position with €45.0 million in cash at the period's end. Additionally, Fitch assigned a new credit rating of 'B' with a stable outlook to the group in May 2024. These results underscore the company's sustained momentum and its effective management in a dynamic financial environment.