"Ard Credit NBFI" JSC, registered in the 1st classification of “Mongolian Stock Exchange” JSC presented operational and financial results for the first half of 2024.
Ard Credit NBFI JSC summarized its financial and operational results for the first half of 2024 and presented them to the public. The following main results were achieved during the reporting period.
Highlights of the First Half of 2024:
Follow-on Public Offer (FPO):
In the first half of the year, Ard Credit NBFI JSC offered 30% of its shares, or 84,000,000 shares, to the public at MNT 106 per unit, successfully raising MNT 8.9 billion from 1,578 investors, who placed orders totaling MNT 9.1 billion. As a result, the company has expanded its capacity to attract financing by increasing its equity.
Products and Services:
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For our loyal customers who actively use the Ard App, the terms of consumer online loans have been updated, with the loan interest rate and fees reduced.
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Car loan requests are now processed through the Ard App.
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Digital money approval was obtained from the Bank of Mongolia.
Financial Results:
In the first half of 2024, Ard Credit NBFI JSC increased its total assets by 16 percent to MNT 83.7 billion and grew its loan portfolio by 10 percent to MNT 54.5 billion. During the reporting period, it earned MNT 9.3 billion in interest and commission income and achieved a net profit of MNT 1.6 billion. This represents a 56 percent increase in net profit compared to the same period last year.
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