Iute Group Announces Unaudited 2024 Financial Results

Iute Group, a prominent European personal finance entity, has disclosed its unaudited financial outcomes for 2024. The company recorded a 10.6% increase in its consolidated balance sheet, reaching 415.7 million EUR. However, the revenue target of 120 million EUR was slightly missed, closing at 113 million EUR. Customer growth was noted with active users rising by 1.9% to 262 thousand.

Despite the growth, net profit fell short of expectations, reaching 9 million EUR due to factors like FX impacts and LGD calculation changes. The company's strategic focus includes advancing digital banking initiatives and enhancing operational efficiency. Looking ahead, Iute aims to strengthen its profitability through improved opex-to-revenue ratios and expanded services, particularly in the Balkan region where the MyIute app has seen significant downloads.