Saldo logo
Financial report

From Finland to the world: plans for internationalisation progress


As planned, Saldo Finance Plc opened its lending operations in Lithuania during the first quarter of 2021.

The Finnish government continued to regulate interest rates on consumer credit and marketing in response to the pandemic-related state of emergency. However, the company's result was stable with net sales of EUR 7.5 million and operating profit of EUR 5.2 million.

Q1 2021 Saldo opened operations in Lithuania

Saldo reached a significant strategic milestone when it opened for business in Lithuania in March 2021. This marks another step in the company’s goal of internationalisation.

Saldo’s initial product offering for the Lithuanian market was consumer loans in the range of €500-3,000. One of the company’s core values – responsible lending – is supported by Lithuania’s transparency regarding customer data. Access to relevant customer information, in addition to Saldo’s fully automated loan application process and unique scoring system, facilitates the creation of individual loan offers for the customer. The repayment structure is tailored to each customer’s financial situation, with options including affordable monthly instalments over nominated time periods.

Stable and strategic: solid progress and strong growth forecast

At the beginning of 2021, the Finnish government confirmed an anticipated tightening of consumer credit regulations until October 2021, with the possibility of an extension. The interest rate on consumer credit remained capped at 10% in addition to a ban on direct marketing. Optimisation measures Saldo had in place kept the company's results stable.

Despite the challenging circumstances, Saldo has shown solid progress towards achieving the status of an internationally recognised financial institution.

Market openings in both Sweden and Lithuania were carried out according to plan, and new services have been well received in the countries. In Finland, Saldo expanded its product portfolio by developing existing services during the first quarter of the year, and focusing on a corporate loans offering which contributed to the company’s efficiency.

Further information:

Jarkko Mäensivu


Saldo Finance Plc

Tel. +358 50 470 1006

Saldo in brief:

Saldo Finance Plc is a Finnish financial services company and a leading provider of fully automated credit solutions in Finland. Saldo offers flexible loans and car financing for both consumers and businesses. The company's advanced scoring system ensures responsible lending, and its own lending system supports business growth also internationally.

Saldo is a solvent and reliable partner whose whose profit has remained steady despite the pandemic. In 2020, the company's net sales were EUR 34 million and operating profit EUR 15 million. Saldo Finance Plc had 44 employees at the end of 2020.


More like this

Explore More
Financial report

A split-up demerger divided Saldo Finance Oyj into two new companies

Financial report

Saldo transformed into an international financial company

Financial report

Q3 2021 Saldo expanded operations in Sweden

Explore More