Issued on NOTC.no 2020-10-07 15:10:11
Aprila’s gross income from lending grew by 68% in the third quarter, to an all-time high of NOK 5.9 million.
Gross loans amounted to NOK 121 million at the end of the quarter, an increase of NOK 45m (+59%) compared to the end of Q2 2020. The credit line product launched in December 2019 accounted for 61% of gross loans at the end of the quarter.
Purchased amount in Q3 2020 amounted to an all-time high NOK 115 million, compared to NOK 80 million in Q2 2020. The 43% growth in purchased amount is a result of an increase in available invoicing volumes (invoiced amount), and a new decision engine for spot factoring launched on 5 September 2020. NOK 54 million (47%) of the purchased amount was purchased in September, surpassing the previous all-time high from October 2019 with a margin of NOK 13m (30%).
At the end of the third quarter, Aprila had 2,274 SME customers, an increase of net 462 customers (+25%) since the end of the second quarter of 2020. Fiken accounted for ~37% of the customers added in the quarter, followed by Visma eAccounting with ~32%, own channels with ~16%, Tripletex with 8% and other channels with ~6%.
The partnership with Visma.net Webfaktura announced on 25 September is proceeding as planned and launch is expected during Q4 2020.
Aprila will continue to develop its close partnership with Visma in order to jointly cover customers’ financial needs with financial products embedded in Visma’s online accounting systems, and Aprila will simultaneously increase its focus on own direct channels and other identified partner opportunities with a high potential. Aprila has today launched a new website designed for customer acquisition and will launch our first real marketing campaign next week.
Going forward Aprila will gradually become increasingly diverse in terms of products, distribution channels and partnerships, and thus less dependent on any single partnership.
Aprila expects the strong growth to continue.
Aprila’s Q3 presentation will be held on Friday 6 November 2020.
Contact person at Aprila Bank ASA:
Kjetil S. Barli, CFO
+47 908 42 016