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Twino fintech reports best profits yet

The consolidated net profit of the finance technology (fintech) group TWINO, which provides lending and P2P investment brokerage services, reached EUR 7.4 million in 2020 according to the company’s audited consolidated financial statements for year 2020.

In 2020, the company also continued its preparations for becoming a licensed investment broker later this year.

“All of the main preparatory work for the receipt of an investment brokerage license in Latvia has already been completed, and a favourable feedback has been received from the regulator. We are hoping to officially receive the license in the coming days,” said TWINO Group’s CEO Anastasija Oļeiņika.

The Group is also working actively on the payment institution licensing process for its Polish operations, she added.

In 2020, Group income reached EUR 61.6 million, which is an increase of 30.2% compared to 2019, and issued loans totalled EUR 158 million. Since its foundation in 2009, TWINO Group has issued loans with a total value of EUR 1.4 billion since it was founded in 2009.

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