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Financial report

Saldo Q1 results as budgeted in 2020


Saldo Finance Plc focused on optimizing it’s lending business in Finland and the first quarter financial results were according to the budget with turnover of EUR 10.1 million (EUR 13.9 million), operating profit EUR 5.1 million (EUR 6.7 million) and net profit of EUR 3.9 million (EUR 5.2 million). Saldo will continue according to its strategy to expand geographically and to introduce new products in 2020.

During Q1 Saldo focused on optimizing it’s lending business in Finland according to its strategy in the new market situation with the Q3 2019 legislation change molding the competitive landscape. At the same time Saldo focused on it’s core and continued to invest into its market leading on boarding, digital marketing and proprietary credit scoring system efficiency. Expansion to new product lines started 2019 and the company outlined it’s goals to expand into further new products and to expand geographically.

Saldo utilities open banking for responsible lending

Saldo’s core value, responsibility, took another leap forward with Saldo becoming one of the first lending companies to utilise the PSD2 data. Through open banking technology it identifies better the applicants in distressed and indebted situations to insure increasingly responsible credit decisioning.

Saldo has also adapted its credit decisioning and product features to optimize lending in the new market landscape which also meant reducing its loan book. The company’s loan book reduced by 9.9% during Q1 2020 compared to Q4 2019, but has started to come more stagnant towards the end of the quarter. Saldo will continue to execute it’s long-term strategy with the optimized lending operations in order to achieve a better diversified and protected loan book for it’s Finnish business.

Saldo focuses on new products and geographical expansion

Saldo introduced a fully automated SME loan during Q4 2019 and has been steadily growing it’s SME lending book and optimizing its scoring & responsible lending, also taking into consideration the Covid-19 impact. Saldo has an opportunity to support SMEs during these distressing times. Through it’s automated SME scoring & lending system the company is able to process up to thousands of applications in a matter of hours, whilst ensuring strong anti-money laundering & know your customer protocols.

Saldo’s geographical expansion strategy took an important step as Saldo was able to test it’s lending abilities in Sweden and was able to launch it’s lending operations early Q2. Saldo will start with consumer lending and study the opportunity to expand into SME lending in Sweden. Saldo is also working on launching it’s lending operations in Lithuania during 2020.

Saldo has an ambitious plan and several milestones for the rest of 2020 to achieve. These milestones will take Saldo further in it’s long-term strategy execution, leading to it's vision of becoming an International financial institution differentiating through it’s proprietary lending & credit scoring system.

More information:

Jarkko Mäensivu


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 net sales have grown by 56 per cent in the last three years. In 2019, the company's net sales were EUR 54 million and operating profit was 51 per cent of net sales. Saldo had 27 employees at the end of 2019.


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