Annual Financial Report
SIA "AgroCredit Latvia" Audited Annual Report 2017 and Corporate Governance Report
Mārupe, 2018-04-27 13:32 CEST --
2017 was a year of further balanced growth for the Company. The total credit portfolio exceeded 7 mEUR by the end of the season (July) which was the all times highest result for the Company. The total interest income and profitability grew as well during the year. The accruals were raised to compensate the credit risks and to match the requirements of the Accrual making methodology.
Despite the fact that the last season was challenging in farming, especially in Latgale and Vidzeme regions (heavy rains during the harvest time) the overall credit portfolio quality standards remained on previously high levels. The majority of the borrowers met their liabilities and the others found acceptable solutions to cover the debt during the coming season.
The Company plans stable growth in 2018 as well and will aquire additional credit resources from the bank and bond emission.
About SIA AgroCredit Latvia
The company is operating since 2011 and grants specialized financial services to the farmers, mainly grain growers. The seasonal financing is offered to the customers to finance the purchases of raw materials and other current assets. The loans are repaid after the harvest and sales of grain.
Chairman of the Board
Phone +371 29445225