At VIAINVEST, we are committed to keeping our investors informed by sharing quarterly insights from our loan originators. This Q3 2025 overview highlights the performance of our loan originators, including the latest data and operational news.
Latvia
Q3 2025 showed continued portfolio growth, with the net portfolio increasing to EUR 44,480,131 compared to EUR 43,018,484 in Q2. Loan issuance in the quarter amounted to EUR 15,503,165, down from EUR 18,689,129 in Q2, reflecting the expected seasonal slowdown. Portfolio quality remained broadly stable, with loans over 90 days past due increasing slightly from EUR 62,129 in Q2 to EUR 63,681 in Q3.
VIASMS.LV is focusing on strategic development projects, including the ongoing implementation of a Customer Relationship Management (CRM) system and the conversion of other credit product portfolios into the main product – VIASMS.lv elastīgais aizdevums. This consolidation will enable the company to focus migration efforts on a single product within the new CRM, where it will not only enhance the primary product but also create a path for the development of a new loan product.
| Metric | Q2 2025 | Q3 2025 |
| Net portfolio | 43 018 484 EUR | 44 480 131 EUR |
| NPL 90+ days | 62 129 EUR | 63 681 EUR |
| Loan volume | 18 689 129 EUR | 15 503 165 EUR |
Sweden
Q3 2025 showed continued portfolio growth, with the net portfolio increasing to EUR 15,783,985 compared to EUR 14,283,829 in Q2. Loan issuance in the quarter amounted to EUR 7,162,213, up from EUR 6,012,909 in Q2. This reflects solid performance supported by strong sales activity, low default levels, and a higher share of loans initially sent to in-house debt collection before being sold to third parties.
The company is working on several strategic projects aimed at achieving the 2026 expansion goals, including the introduction of a new loan product supported by a modern core banking platform and CRM system.
| Metric | Q2 2025 | Q3 2025 |
| Net portfolio | 14 283 829 EUR | 15 783 985 EUR |
| NPL 90+ days | 851 651 EUR | 1,233,942 EUR |
| Loan volume | 6 012 909 EUR | 7 162 213 EUR |
Czech Republic
Q3 2025 was a period of significant transformation for the Czech operations, marked by the successful launch of a new CRM system, the introduction of a new product, and the update of company websites. These milestones create a strong foundation for future growth and more efficient portfolio management.
The current focus is on increasing traffic to the new platform, improving system performance, and smoothly migrating existing clients from the old CRM through returning customers and loan restructurings. In parallel, the company aims to enhance both sales performance and debt collection efficiency significantly by integrating NRKI, the Czech non-bank client credit database, to strengthen client risk assessment, and ThePay payment gateway to ensure smoother, faster, and more successful repayment flows.
| Metric | Q2 2025 | Q3 2025 | |
| Net portfolio | 2 323 917 EUR | 2 184 137 EUR | |
| NPL 90+ days | 734 516 EUR | 653 057 EUR | |
| Loan volume | 1 223 667 EUR | 646 070 EUR | |
Romania
For Romania’s loan originator, Q3 2025 was marked by significant regulatory developments, which affected sales as the company implemented tighter client credit score checks and issuance controls. As a result, issuing volumes in this market were below expectations.
While these measures temporarily slowed growth, they also reinforced the company’s commitment to complete regulatory alignment and long-term market stability. The company used this period to strengthen internal compliance processes, refine underwriting models, and prepare for the recovery phase once the restrictions are eased.
Looking ahead, a notable improvement is expected in Q4 performance as regulatory conditions normalize, and the company’s operational readiness allows for rapid scaling of origination volumes. The groundwork laid during Q3 enables sustainable growth in the months ahead, with an emphasis on quality lending and strategic market expansion.
| Metric | Q2 2025 | Q3 2025 |
| Net portfolio | 791 779 EUR | 646 674 EUR |
| NPL 90+ days | 441 459 EUR | 564 099 EUR |
| Loan volume | 434 352 EUR | 117 154 EUR |
Disclaimer
1) This is marketing communication, not investment advice or investment research. Investments involve certain risks and costs. Legal information about SIA “Viainvest” and its services is available here: https://viainvest.com/en/company/legal/. 2) This is a periodic fact sheet provided for informational purposes. Data sourced from our own internal records. Past performance is not a reliable indicator of future results.