Iute Group Reports Unaudited Financial Results for H1 2024

Iute Group, a European personal finance group, has released its unaudited results for the first half of 2024. The report highlights an evolution in both quality and quantity.

Total customers have increased to 1.1 million, with active users at 268,000. The revenue per customer rose to €369. The group's balance sheet expanded by 5.5% to €396.5 million. Equity also saw growth, rising by 8.8% to €69.4 million.

Loan payouts increased by 38% to €184.6 million, while the gross loan portfolio grew by 13% to €284.7 million. The net loan portfolio also saw an uptick, rising by 14.4% to €265.7 million.

Income from interest and commissions fell by 1.8% to €45.2 million. However, total revenue grew by 3.4% to €53.6 million. The cost-to-revenue ratio increased slightly to 43.8%, mainly due to higher personnel expenses.

Despite a net profit decline to €4.1 million from €7 million, the group notes improvements in customer quality and operational efficiency. The full report is available on their website.