Hello, Investors and VIAINVEST community!
We would like to provide a brief update on an operational change affecting VIA SMS Group’s business in Poland. VIA SMS Group has decided to end its lending activities in Poland after careful consideration and strategic review.
Commentary from Wojciech Malek, country manager, VIA SMS PL
“We have been at the forefront of digital lending in Poland for over a decade, continuously adapting to evolving regulations and market changes. The changes implemented in December 2022 have led to a gradual decrease in our operations. Despite the significant reduction in provisions on loans issued to a level of 10% + 10% per year, we adapted effectively, adding Value Added Services (VAS) to maintain profitability. However, one amendment to the Consumer Credit Act, verified by multiple law firms, presented an impassable barrier.
Continue reading Update on an VIA SMS Group’s operations in Poland
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