Interim Financial Report January - June 2020
Results for the same period for the previous year are stated in brackets.
The Board has convened an Extraordinary General Meeting on September 8. The Board of Directors proposes to raise SEK 40 million through a directed issue of common shares and warrants.
Emil Sunvisson, CEO at Qred:
The outlook has varied greatly during the first half of 2020. In connection with the corona outbreak at the end of the first quarter, the outlook was bleak with an escalating pandemic and mass leaves of absence.
However, the situation has improved rapidly during the quarter. The credit losses related to the pandemic will likely not be as extensive as feared at the end of the first quarter. Demand for corporate loans has gradually recovered.
In the long run, we believe that the pandemic will further accelerate the digitalisation of financial services. In comparison with many economies in Europe, the Nordic countries have come a relatively long way. Many other markets are still waiting for the digital revolution in corporate loans, which opens up the possibility of broadening our offering in new geographies.
Through continued automation and investment in improved and new products, we are building a next-generation fintech company with technology and small businesses in focus.