Posted by Just over a year ago, the Kosovan lender Virtus Lending was added to #Income Marketplace and has since financed an impressive EUR 10 million in loans. The outstanding portfolio currently stands at EUR 4.7 million, making it the second-largest position on the Estonian marketplace. I’m also personally invested in Virtus loans with approximately EUR 3,500. According to the latest information, here is a brief assessment of the 2025 business figures that were recently shared.
On the positive side, operating revenue has risen 61% to approximately EUR 2.3 million, while net profit has also increased by 57% to EUR 372K. Virtus has now been profitable with growing profits for the third consecutive year, although on a relatively small level. The growth of the net loan portfolio, from EUR 7.8 million to EUR 11.8 million, is primarily driven by debt financing. The debt ratio has climbed to a new high of 7.0, while the equity ratio has remained almost unchanged at 11.4%. The liquidity ratio of just 0.5 further illustrates how thinly stretched Virtus Lending is.
An encouraging sign is the quality of the loan portfolio. The impairments ratio currently stands at just 2.9%. The reporting standard also deserves positive mention as the financial statement was prepared by BDO and audited in accordance with IFRS standards. In my internal lender rating, which looks at financial stability in isolation, Virtus Lending has improved its score to 68 points, corresponding to an above-average mid-tier rating. Only ITF Group and Autofino have a higher overall score on Income Marketplace.