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ID Finance Spain has closed the first half of 2022 with a net profit of €5 million, which is a 25% increase on a yearly basis. Overall, MoneyMan’s lending activity in Spain contributed to a €59 million revenue, a 57% increase compared to the same period of 2021.
With an equity to assets ratio of 23%, the company holds a strong and healthy equity position.
In this regard, in May of this year, Fitch Rating improved IDF Spain’s outlook from negative to stable and affirmed the rating of the company’s non-guaranteed long-term debt -IDF Spain SAU 9,5% 20/23 Bond- listed on Frankfurt, at ‘B-‘ with a Recovery Rating of ‘RR4’.
This sustainable position allows the company to engage new institutional investors to support strategic initiatives and further growth.
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