Saldo transformed into an international financial company
For Saldo Finance Oyj, the focus for 2021 financial year was to continue strengthening the foundations for continued sustainable growth, and develop into a versatile and truly international financial institution. Challenges included after-effects of the COVID-19 pandemic, and subsequent regulatory changes.
Throughout the pandemic, Saldo Finance Oyj responded quickly to changes by optimising credit granting criteria, and scaling operational activities. By further developing existing products, especially business lending, and accelerating consumer financing during the year, the company succeeded in creating an excellent base for the diversification of its business operations and sustainable growth.
Due to the company's active operations, turnover decreased by only 20.1% compared to the previous financial year and the operating profit decreased by only 0.7%.
During 2021, Saldo Finance Oyj grew its business in terms of consumer and business lending in Finland, expanded lending through its sister company with new products for consumers in Sweden, and set up a business base in Lithuania. The company also invested heavily in the scalability of its IT and scoring systems, which strongly supports the company's sustainable growth strategy as an international financial institution.
Saldo Finance Oyj's Lithuanian subsidiary Saldo Finance UAB received a special banking license from the European Central Bank in October. This enables Saldo to receive deposits, grant loans, fund transfer services and other usual banking services. In 2022, the company will focus on developing its operations and ensuring operational readiness for the introduction of the banking license.
Saldo Finance Plc
Tel. +358 50 470 1006