Fintech PR
Citycon H1/2023: Compounding operational growth
CITYCON OYJ Half-Year Financial Report 18 July 2023 at 20:30 hrs
HELSINKI, July 18, 2023 /PRNewswire/ — CITYCON Q1-Q2/2023 RESULTS SUMMARY:
FINANCIAL & KEY PERFORMANCE INDICATORS
Like-for-Like (‘LFL’) Net Rental Income
Excludes acquisitions, dispositions, development, and closed asset (Torvbyen)
- Q1-Q2/2023, increased 6.9% (comparable FX) vs. Q1-Q2/2022
- Q2/2023, increased 4.5% (comparable FX) vs. Q2/2022
Q2/2022 was positively impacted by several one-time benefits resulting in difficult Q2/2023 comparisons. Excl. these one-time items:
- Q1-Q2/2023, increased 7.8% (comparable FX) vs. Q1-Q2/2022
- Q2/2023, increased 7.5% (comparable FX) vs. Q2/2022
- Q2/2023 compounding growth achieved versus last year as Q2/2022 LFL NRI growth was 9.1% vs. Q2/2021.
Standing Net Rental Income
Excl. four assets disposed in Norway in 2022
- Q1-Q2/2023, increased 5.5% (comparable FX) vs. Q1-Q2/2022
- Q2/2023, increased 2.6% (comparable FX) vs. Q2/2022
In addition, Q1-Q2/2023 was further impacted by the closing of Torvbyen in Norway. Excl. the adverse impact of these two combined items:
- Q1-Q2/2023, increased 7.9% (comparable FX) vs. Q1-Q2/2022
- Q2/2023, increased 7.2% (comparable FX) vs. Q2/2022
All Net Rental Income
- FX-rate impact to total NRI was EUR -5.8 million in Q1-Q2/2023
- On a sequential basis, Q2/2023 NRI grew 2% over Q1/2023
KPI’s
- Q1-Q2/2023 LFL tenant sales +4.1%
- +9.7% vs. Q1-Q2/2019 (pre-pandemic)
- Q1-Q2/2023 LFL footfall +3.1%
- Q2/2023 retail occupancy 95.5%
-
- +10 bps vs. Q1/2023
- +50 bps increase from Q2/2022
- Q2/2023 collections were 97%
- Q1/2023 improved to 99% from 97%
- Q1-Q2/2023 average rent per sqm increased EUR 1.5 (+6.8%) to EUR 24.0 (comparable FX)
- Q2/2023 9.4% LFL occupancy cost ratio
BALANCE SHEET
Liability Management
- Replacement and extension of EUR 650 million credit facility in April 2023, incl. EUR 250 million term loan
- Q2/2023 Tendered EUR 138 million of 2024 senior bonds (notional)
- Q2/2023 Purchased additional EUR 15.7 million of notional bonds in open market
- Q1-Q2/2023 total notional bond and hybrid repurchases of EUR 235 million for EUR 211 million cash
Fair Value
- Q1-Q2/2023 net fair value improved EUR 69.4 million
- Q2/2023 net fair value improved EUR 24.7 million
SUSTAINABILITY
- 3rd consecutive year as Financial Times European Climate Leader
- Only Finnish real estate company included on the list; top third of all European companies regardless of sector.
- Recently updated sustainability strategy
- Setting ambitious goals for 2030
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STANDING PORTFOLIO KEY FIGURES 1) |
|||||||
|
Q2/2023 |
Q2/2022 |
% |
FX Adjusted |
FX Adjusted % 4)  |
|||
|
Net rental income |
MEUR |
48.9 |
51.0 |
-4.1 % |
47.7 |
2.6 % |
|
|
Direct operating profit 2) |
MEUR |
42.2 |
44.6 |
-5.3 % |
41.5 |
1.6 % |
|
|
EPRA based key figures 2) |
|||||||
|
EPRA Earnings |
MEUR |
26.6 |
30.4 |
-12.5 % |
28.3 |
-6.0 % |
|
|
Adjusted EPRA Earnings 3) |
MEUR |
19.5 |
22.8 |
-14.6 % |
20.7 |
-6.0 % |
|
|
EPRA Earnings per share (basic) |
EUR |
0.159 |
0.181 |
-12.5 % |
0.169 |
-6.0 % |
|
|
Adjusted EPRA Earnings per share (basic) 3) |
EUR |
0.116 |
0.136 |
-14.6 % |
0.123 |
-6.0 % |
|
|
Q1-Q2 |
Q1-Q2/ |
% |
FX Adjusted |
FX Adjusted % 4) |
Q1-Q4/2022 |
||
|
Net rental income |
MEUR |
96.8 |
97.0 |
-0.3 % |
91.7 |
5.5 % |
195.1 |
|
Direct operating profit 2) |
MEUR |
80.5 |
81.9 |
-1.7 % |
77.2 |
4.3 % |
166.2 |
|
EPRA based key figures 2) |
|||||||
|
EPRA Earnings |
MEUR |
51.9 |
55.7 |
-6.8 % |
52.3 |
-0.7 % |
113.6 |
|
Adjusted EPRA Earnings 3) |
MEUR |
37.4 |
40.6 |
-8.0 % |
37.2 |
0.5 % |
83.1 |
|
EPRA Earnings per share (basic) |
EUR |
0.309 |
0.332 |
-6.8 % |
0.311 |
-0.7 % |
0.676 |
|
Adjusted EPRA Earnings per share (basic) 3) |
EUR |
0.222 |
0.242 |
-8.0 % |
0.221 |
0.5 % |
0.495 |
|
1)Standing portfolio key figures include only income and expenses from investment properties that were on group balance sheet on 30 June 2023. The portfolio is the same in the reporting period and in the comparison period, hence the numbers are comparable. Lippulaiva (opened on the 31st of March 2022) is included in the standing portfolio. |
|||||||
|
KEY FIGURES |
|||||||
|
Citycon Group 1) |
Q2/2023 |
Q2/2022 |
% |
FX Adjusted |
FX Adjusted % 2) |
||
|
Net rental income |
MEUR |
48.9 |
52.8 |
-7.3 % |
49.2 |
-0.6 % |
|
|
Like-for-like net rental income development |
% |
4.5 % |
9.1 % |
– |
– |
– |
|
|
Direct operating profit 3) |
MEUR |
42.2 |
46.3 |
-8.9 % |
43.0 |
-2.0 % |
|
|
IFRS Earnings per share (basic) 4) |
EUR |
0.18 |
0.13 |
41.2 % |
0.11 |
56.0 % |
|
|
Fair value of investment properties |
MEUR |
3 979.0 |
4 216.9 |
-5.6 % |
– |
– |
|
|
Loan to Value (LTV) 3) 6) |
% |
43.0 |
40.8 |
5.4 % |
– |
– |
|
|
EPRA based key figures 3) |
|||||||
|
EPRA Earnings |
MEUR |
26.6 |
32.2 |
-17.4 % |
29.8 |
-10.9 % |
|
|
Adjusted EPRA Earnings 5) |
MEUR |
19.4 |
24.6 |
-20.8 % |
22.2 |
-12.5 % |
|
|
EPRA Earnings per share (basic) |
EUR |
0.158 |
0.192 |
-17.4 % |
0.178 |
-10.9 % |
|
|
Adjusted EPRA Earnings per share (basic) 5) |
EUR |
0.116 |
0.146 |
-20.8 % |
0.132 |
-12.5 % |
|
|
EPRA NRV per share 7) |
EUR |
10.71 |
11.87 |
-9.8 % |
– |
– |
|
Q1-Q2 |
Q1-Q2 |
% |
FX Adjusted |
FX Adjusted % 2) |
Q1-Q4/2022 |
||
|
Net rental income |
MEUR |
96.7 |
101.8 |
-5.0 % |
96.0 |
0.8 % |
203.6 |
|
Like-for-like net rental income development |
% |
6.9 % |
6.1 % |
– |
– |
– |
6.6 % |
|
Direct operating profit 3) |
MEUR |
80.4 |
86.4 |
-7.0 % |
81.3 |
-1.0 % |
175.2 |
|
IFRS Earnings per share (basic) 4) |
EUR |
0.50 |
0.26 |
91.5 % |
0.24 |
– |
-0.15 |
|
Fair value of investment properties |
MEUR |
3 979.0 |
4 216.9 |
-5.6 % |
– |
– |
4 040.1 |
|
Loan to Value (LTV) 3) 6) |
% |
43.0 |
40.8 |
5.4 % |
– |
– |
41.4 |
|
EPRA based key figures 3) |
|||||||
|
EPRA Earnings |
MEUR |
51.9 |
60.3 |
-14.0 % |
56.4 |
-8.0 % |
122.6 |
|
Adjusted EPRA Earnings 5) |
MEUR |
37.3 |
45.2 |
-17.4 % |
41.3 |
-9.6 % |
92.1 |
|
EPRA Earnings per share (basic) |
EUR |
0.309 |
0.359 |
-14.0 % |
0.336 |
-8.0 % |
0.730 |
|
Adjusted EPRA Earnings per share (basic) 5) |
EUR |
0.222 |
0.269 |
-17.4 % |
0.246 |
-9.6 % |
0.548 |
|
EPRA NRV per share 7) |
EUR |
10.71 |
11.87 |
-9.8 % |
– |
– |
11.01 |
|
1)The numbers include the sale of four investments properties during the last year |
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CEO F. SCOTT BALL:
We continue to see strong performance in our business fundamentals in the first half of the year as like-for-like tenant sales were 4.1% above Q1-Q2/2022 and 9.7% above Q1-Q2/2019 pre-pandemic levels. We also are seeing more customers in our centres as like-for-like footfall increased 3.1% compared to the previous year. Retail occupancy is now at 95.5%, up 50 bps versus the same quarter last year. At the same time, average rent per square meter, with comparable FX rates, increased by 1.5 EUR/s.qm. (6.8% to 24.0 EUR per sq.m.) during the first half the year. We continue to benefit from a low occupancy cost ratio of 9.4%, which together with increasing tenant sales and improving footfall, positions Citycon for continued compounding rent growth and service charge increases. Sales increases keeping pace with inflation were evident in our continued high collection rates of 97% in Q2/2023, with Q1/2023 collection improving to 99%. In the first half of the year, these metrics supported our underlying asset values where we recorded a net fair value gain of EUR 69.4 million for Q1-Q2/2023, reflecting the impact of compounding rent growth due to indexation linked leases (93% of our leases).
The net effect of these strong KPI’s is that like-for-like net rental income grew nearly 8%, when excluding one-time items. On a sequential basis, Q2/2023 net rental income grew 2% over Q1/2023 net rental income. In the first half of this year there has been adverse volatility of currencies (which is outside of our control), specifically the NOK and SEK are at twenty-year lows. Each quarter we translate these currencies back to the euro for reporting purposes. These currencies will likely rebound at some point, at which time we will benefit. More details on the impact of currency through H1/2023 are included within the report.
There are several factors which explain these results: our terrific assets, our strong local teams, the strength of our markets throughout the Nordics and continued strength of consumers, as evidenced by the high level of foot traffic in our assets and the corresponding sales being reported by our tenants. This is due, in part, to our business model, which focuses on necessity-based retail and essential services addressing the every-day-needs of our communities. This type of retail promotes daily traffic to our properties, which is only enhanced by locations in central urban areas adjacent to public rail/bus transportation hubs. Another driver of the consumer strength phenomenon is the average wage growth (5.5%) that has occurred in our markets due to inflation. As is typical in an inflationary environment, price increases work though the entire chain: wages, cost of goods/services, higher sales, and ultimately, for Citycon, higher rents.
As noted in our Q1/2023 Interim Report, we refinanced and expanded our credit facility in April from EUR 500 million to EUR 650 million, consisting of a EUR 400 million revolver and EUR 250 million term loan. Following this refinancing, our team continued their disciplined capital allocation by using the proceeds to execute a EUR 138 million tender for our bonds maturing in 2024, taking advantage of large discounts and dislocation in secondary trading. In addition to the tender, we continued repurchasing bonds (EUR 15.7 million) in the open market at a significant discount during the second quarter and will continue to act opportunistically to repurchase debt. Through these actions, we continue to mitigate the earnings impact of higher current market interest rates, while also improving our overall balance sheet. In addition to the new credit facility and term loan, we have disposed of EUR 266 million of non-core assets at approx. book value over the past 20 months, including EUR 120 million in December 2022, which is part of our planned EUR 500 million asset sale target. With the additional flexibility of the new credit facility, we can be patient as Nordic transaction markets stabilize and we continue our asset management initiations to maximize values for further sales transactions. Given the reports of significant amounts of investment capital waiting to be invested, we remain confident that we will meet our previously disclosed divestment target by the end of 2024.
As mentioned, the tenant mix of Citycon’s assets, which consists of municipal and grocery tenants, anchored by public transportation with indexation linked leases, sets us apart from our peer group. This long-stated strategy has already demonstrated its strength and resilience throughout a variety of market conditions, which we continue to improve upon. The most recent example of our active asset management is Myyrmanni centre in Finland, where we have further improved the tenant mix to increase the share of necessity-based tenants by signing several new leases including a new Lidl grocer and a 7,300 sq.m. Prisma hypermarket resulting in groceries representing over 50% of the total GLA when reopening this fall. This is consistent with what we have achieved in many of our properties including Columbus (which we sold in 2021) and will continue to accomplish across the portfolio. These actions not only provide stability to revenue growth, it has the added benefit of improving the average credit profile of our tenant base. These asset management decisions remain aligned with, but separate from, the zoning work we are doing to achieve substantial additional building rights across the portfolio.
Our business is really not that complicated. We own quality real estate, provide the consumer the goods and services they require, and provide an environment that is convenient to access. When you layer in the dramatic impact of compounding rent growth, you have the recipe for success. The bottom line is that our business fundamentals are strong, and our assets continue to perform very well. There is a scarcity of the type of high-quality retail assets we own, we have a proven business model and all of the important metrics (sales, footfall, rents, occupancy, collections) continue to show sustained growth. For all these reasons we remain bullish on the prospects of the business moving forward.
FX impact on LTV, NRV and IFRS equity
|
Actual FX-rates Q2/2023 |
14.7.2023 FX-rates |
31.12.2022 FX-rates |
31.12.2021 FX-rates |
|
|
LTV (%) |
43.0 % |
42.6 % |
42.0 % |
41.1 % |
|
EPRA NRV per share |
10.71 |
10.93 |
11.29 |
11.60 |
|
Equity increase compared to Q2 actual (MEUR) |
– |
32.4 |
86.2 |
131.9 |
OUTLOOK FOR THE YEAR 2023 – reaffirmed with additional FX details
|
Outlook for 2023 with year-end 2022 FX rates |
Potential FY2023 negative FX impact |
||
|
Direct operating profit |
MEUR |
174–192 |
-10 |
|
EPRA Earnings per share (basic) |
EUR |
0.69–0.81 |
-0.08 |
|
Adjusted EPRA Earnings per share (basic) |
EUR |
0.51–0.63 |
-0.08 |
The outlook assumes that there are no major changes in macroeconomic factors and that there will not be another wave of COVID-19 with restrictions resulting in significant store closures and no major disruptions from the war in Ukraine. These estimates are based on the existing property portfolio as well as year-end 2022 estimates of inflation, EUR–SEK and EUR–NOK exchange rates, and interest rates.
Given exchange rates have recently been subject to extraordinary volatility, estimated FX impact for the full year 2023 is provided as an additional information for further transparency and clarification. Potential negative FX impact for FY2023 is based on the assumption that EUR–SEK and EUR–NOK exchange rates stay at the level of 14 July 2023.
AUDIOCAST
Citycon’s investor, analyst and press conference call and live audiocasting will be held on Wednesday, 19 July 2023 at 10 am EEST. The audiocast can be participated by calling in and following live at this website: https://citycon.videosync.fi/q2-2023
Questions for the management can be presented by phone. To ask questions, join the teleconference by registering on the following link: http://palvelu.flik.fi/teleconference/?id=10010528
After the registration you will be provided with phone numbers and a conference ID to access the conference. To ask a question, press *5 on your telephone keypad to enter the queue.
The audiocast will be recorded and it will be available afterwards on Citycon’s website.
CITYCON OYJ
For further information, please contact:
Bret McLeod
Chief Financial Officer
Tel. +46 73 326 8455
[email protected]
Sakari Järvelä
VP, Corporate Finance and Investor Relations
Telephone +358 50 387 8180
[email protected]
Citycon is a leading owner, manager and developer of mixed-use real estate featuring modern, necessity-based retail with residential, office and municipal service spaces that enhance the communities in which they operate. Citycon is committed to sustainable property management in the Nordic region with assets that total approximately EUR 4.2 billion. Our centres are located in urban hubs in the heart of vibrant communities with direct connections to public transport and anchored by grocery, healthcare and other services that cater to the everyday needs of customers.
Citycon has investment-grade credit rating from Standard & Poor’s (BBB-). Citycon’s shares are listed on Nasdaq Helsinki Ltd.
www.citycon.com
The following files are available for download:
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Citycon_Half-yearly Report 2023 |
View original content:https://www.prnewswire.co.uk/news-releases/citycon-h12023-compounding-operational-growth-301880146.html
Fintech is on an accelerated trajectory of investment, collaboration, and innovation. This pulse tracks the most significant developments in the sector, from high-profile investments to global platform expansions. Each update in this briefing serves as a key indicator of where the industry is headed.
1. European Fintechs Face Regulatory Pressures Amid New Investment Surge
The European fintech sector finds itself at a crossroads with increasing scrutiny and rising costs due to stringent regulations. While investments continue to flow into the continent’s financial technology companies, challenges in meeting new compliance requirements, especially around data privacy and cybersecurity, create a complex landscape for scaling. This tension between opportunity and operational limitations might affect European fintechs’ growth strategies.
Source: Financial Times
2. Shopify, Slack Founders Join Peter Thiel in Fintech Investment Push
Tobi Lütke of Shopify and Stewart Butterfield of Slack, along with investor Peter Thiel, have co-invested in a new fintech initiative that aims to bolster small business access to capital. By merging technology with a streamlined funding model, this new initiative targets underserved SMBs, highlighting a broader trend of high-profile tech leaders pivoting to fintech investment. The participation of Lütke and Butterfield signals increased cross-sector collaboration in fintech, bringing expertise from e-commerce and communication technology into the financial arena.
Source: Yahoo Finance
3. Lean Technologies Raises $67.5 Million to Drive Fintech Innovation in the Middle East
Riyadh-based fintech platform Lean Technologies recently secured a $67.5 million Series B investment round, aiming to expand its operations across the Middle East. This funding reflects growing investor interest in emerging markets and the potential of Middle Eastern fintech to bridge regional gaps in financial services access. As Lean Technologies broadens its service offerings, the funding will support further technological integration and scalability across financial ecosystems in the region.
Source: Fintech Global
4. Apollo Global Management Invests in Fintech for Private Offerings Support
Apollo Global Management has taken steps to enhance its services for private offerings by investing in specialized fintech solutions. This development signifies a growing trend among private equity firms to adopt fintech as a core component in their service expansion, particularly for personalized client services. Apollo’s strategy of integrating fintech solutions into private offerings marks a strategic shift toward digitalization within traditional financial sectors.
Source: Bloomberg
5. Juniper Research Names 2025’s Future Leaders in Fintech
Juniper Research has revealed its picks for the top future leaders in fintech for 2025. This list emphasizes innovation in fields such as AI, open banking, and decentralized finance, highlighting startups that exhibit potential for reshaping industry standards. As these up-and-coming firms push the boundaries of traditional finance, they exemplify the rising tide of next-generation financial technology poised to become industry mainstays.
Source: Globe Newswire
Conclusion
The convergence of seasoned tech giants with fintech, new funding rounds for region-specific platforms, and the rise of future industry leaders underscore the momentum of the fintech sector. Each of these stories reflects a broader narrative: fintech is not only diversifying in services but also rapidly integrating into traditional finance and tech, paving the way for a transformative era.
The post Fintech Pulse: Evolving Fintech Investments and Partnerships Signal Industry Transformation appeared first on HIPTHER Alerts.
Fintech PR
Notabene Raises $14.5M in Series B Funding Led by DRW VC to Drive the Future of Stablecoins and Payments
The rapid adoption of Notabene’s crypto payment authorization network, which has seen transaction volumes surge 10X in the past year, reflects the growing demand for compliant crypto payment solutions. This Series B round will help Notabene bring secure, transparent, and compliant crypto payments to more financial institutions, paving the way for stablecoins to revolutionize global finance.
NEW YORK, Nov. 12, 2024 /PRNewswire/ — Notabene, a leading provider of cryptocurrency compliance solutions, today announced it has raised $14.5 million in a Series B funding round led by DRW VC, with participation from funds managed by Apollo, NextBlock, ParaFi Capital, and Wintermute, along with existing investors CMT Digital, F-Prime, Green Visor Capital, Illuminate Financial, Jump Capital, Signature Ventures, and Y Combinator. The funding will accelerate Notabene’s mission to make crypto payments a part of the everyday global economy by fostering open, secure, and compliant transactions.
Regulators now require crypto companies such as exchanges, wallet providers, and payment processors to securely exchange information about sender and receiver, just like they already do in traditional payments. This so-called Travel Rule is now a requirement in most global financial centers.
Having already helped process half a trillion dollars worth of transactions, Notabene is the leading global platform and network for compliant crypto payments. By automating the secure transfer of sensitive data between institutions, Notabene simplifies this complex process that is virtually impossible for companies to implement independently.
Kimberly Trautmann, Partner and Head of DRW VC, the round’s lead investor, emphasized the significance of Notabene’s work in this emerging financial ecosystem:
“Notabene offers a comprehensive and efficient way to track and disclose who an asset is being sent to, which is critical for those who facilitate the exchange, transfer, safekeeping, and administration of virtual assets (Virtual Asset Service Partners or VASPs) and need to be compliant with the Travel Rule. We believe Notabene is positioned to be the provider-of-choice, as it allows users to achieve real-time compliance, is protocol agnostic and does not require exposing sensitive information to other market participants.”
Notabene is expanding its focus to support the growing number of traditional financial institutions moving into digital payments. With over $20T in stablecoin transactions processed last year, global adoption is on the rise and poised to be crypto’s long-awaited killer use case. The key to unlocking stablecoins’ potential as fast, low-cost, borderless payments is a secure and transparent system – one that’s open and not controlled by any single entity. Notabene offers the essential infrastructure for compliance, reconciliation, and safety, enabling open, interoperable payment networks that will drive the next wave of adoption.
Notabene’s CEO, Pelle Brændgaard, underscores the company’s vision for the future of payments:
“We’ve already established ourselves as a pioneer in Travel Rule compliance, and now, as regulatory clarity grows and adoption scales, we are positioned to do the same for payments. By enabling secure, compliant, and open digital asset transactions, we’re helping shape the next generation of global financial infrastructure. Our philosophy of building open networks to maximize reachability between transacting counterparties will be a key driver of adoption with both crypto-native organizations, as well as incumbent players in traditional finance that are showing an increased interest in digital assets and blockchain payment solutions.”
Notabene’s platform has seen a rapid 10x increase in transaction volumes over the past year, totaling nearly $500 billion in transaction volume—solidifying the company’s role as a trusted provider in the compliance space. With over 165 companies using the platform, including some of the largest virtual asset service providers (VASPs) globally such as Copper, Crypto.com, OKX, and Ramp, as well as working relationships with regulatory bodies across hundreds of global jurisdictions, Notabene has built the largest network of transacting counterparties in the market today.
Alexander Ross, General Partner, Head of NYC for investor Illuminate Financial, added:
“As the existing market leader for Travel Rule compliance, we believe Notabene has the potential to become the “SWIFT network for blockchain transactions.” There is a desperate need for a secure network to share all transaction metadata. This will enable compliance with global regulations and is a key pillar to unlocking mass adoption of stablecoins for payments. We have been working with the founders since 2021 and believe they are the best positioned to execute this vision.”
With this raise, Notabene is set to continue its mission to bring crypto and stablecoins into everyday global payments. It will help grow the industry’s only open compliant payments network to support more use cases and new market entrants.
“With $20 trillion in stablecoin transactions processed last year, stablecoins are emerging as the preferred method for fast, low-cost global payments,” said Pelle Brændgaard, Notabene CEO. “As regulatory clarity expands, traditional financial institutions are beginning to recognize stablecoins’ potential. Notabene’s role as a trusted compliance provider is critical to unlocking this potential and establishing stablecoins as a legitimate payment medium worldwide.”
About Notabene
Notabene is the leading crypto payment authorization network, enabling secure, transparent, and compliant transactions for financial institutions around the world. With a platform that facilitates transactions in over 80 jurisdictions, supports over 165 companies, and has processed half a trillion dollars in transaction volume, Notabene is setting the standard for compliant transactions in the digital asset space.
For more information, please visit Notabene.id.
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TALLINN, Estonia, Nov. 12, 2024 /PRNewswire/ — Bluestream OÜ, a quickly expanding digital finance company, is proud to announce the launch of three loan comparison websites aimed at simplifying the loan search process for Finnish consumers. The recently introduced platforms – “Laina heti”, “Luotto”, and “Lainojen yhdistäminen” – are designed to provide transparent, easy-to-understand and reliable financing comparison services designed to meet the diverse financial needs of consumers across Finland.
Laina heti: Speed and Simplicity for Urgent Loans
One of the three platforms, Laina Heti focuses on helping users find fast and convenient loans. This website caters to individuals who require quick access to funds for emergency expenses, unexpected bills or time-sensitive purchases. The design of the website emphasizes simplicity and efficiency, providing users with comparisons of short-term loan offers, including payday loans and other fast financial products.
Luotto: Comprehensive Loan Solutions for All Borrowers
The second platform, Luotto, is the company’s comprehensive comparison website for personal loans. Unlike Laina heti, which focuses on immediate and short-term needs, Luotto is designed to serve consumers seeking more substantial loans for a wider range of financial purposes. Whether it’s for a new car or home renovations, the website provides users with a detailed comparison of various loan options offered by banks, credit institutions, and other lenders across Finland.
Lainojen yhdistäminen: Simplifying Debt Consolidation for Finnish Consumers
The third and final platform, Lainojen yhdistäminen specifically targets consumers looking to consolidate several loans into a single, more manageable monthly payment. For many individuals facing the challenge of managing several loans at once – such as personal loans, credit card debt, or payday loans – loan consolidation can be an effective way to reduce financial stress, improve budgeting and potentially lower the total cost of borrowing.
“With Laina Heti, Luotto and Lainojen Yhdistäminen, we wanted to make it easier for consumers to access quick loans, personal loans and debt consolidation loans without getting bogged down in complex procedures. It’s all about making sure people have the information they need at their fingertips when they need it most,” said a representative for Bluestream OÜ.
About Bluestream OÜ
Bluestream OÜ is a digital finance company based in Tallinn, Estonia. The company specializes in creating financial comparison tools that provide consumers with transparent and comprehensive information to help them make informed financial decisions.
Press Contact:
Bluestream OÜ
Email: [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/bluestream-ou-launches-three-comprehensive-loan-comparison-websites-302302960.html
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