At VIAINVEST, we aim to keep our investors informed by consistently providing insights from our main loan originators. This Q1 2026 overview highlights key developments, including portfolio expansion, recent strategic moves, and business updates, which reflect the ongoing progress and growth of our platform.

Latvia

In Q1 2026, the VIA SMS Latvia loan portfolio continued to demonstrate stable growth, despite a slowdown in loan issuance. The total net portfolio increased by 4.2% to €49.3M, indicating sustained demand and solid portfolio performance.

At the same time, loan volume decreased by 8.9%, reflecting typical seasonality, as Q4 usually sees higher issuance driven by year-end demand. This dynamic – portfolio growth alongside lower issuance – indicates a shift toward higher average loan size.

Credit quality remains broadly stable, although there is a slight increase in risk indicators. Loans overdue by more than 90 days rose 4.7% to EUR 73.6K. This increase is partly linked to cases where clients have been granted adjusted repayment schedules, which are still reflected in the 90+ day category despite repayments being made according to the revised terms. Overall, the level remains relatively low compared to the total portfolio size, indicating controlled risk exposure.

Latvian market shows resilience and maturity, with portfolio expansion driven more by portfolio management and client lifecycle dynamics. Going forward, key focus areas will include maintaining credit quality and optimising acquisition volumes to support balanced growth.

Czech Republic

In Q1 2026, the Czech loan portfolio recorded strong growth, with the total net portfolio increasing by 29.2% to EUR 3.7M. This reflects continued market expansion and improved performance.

Loan volume increased by 34.8% compared to Q4 2025, reaching EUR 1.68M. While Q4 is typically a strong period due to year-end seasonality, the continued growth in Q1 was supported by risk policy adjustments and the rollout of new system features, which helped improve origination and conversion.

At the same time, credit quality indicators deteriorated. Loans overdue by more than 90 days increased to EUR 1.31M. This development reflects the impact of portfolio growth and potential seasonal factors, highlighting the need for continued focus on disciplined risk management.

Overall, the Czech market demonstrates strong growth supported by commercial initiatives and operational improvements. Going forward, the focus will be on balancing further expansion with prudent credit risk management to support sustainable portfolio performance.

Sweden

In Q1 2026, the Swedish net loan portfolio remained broadly stable at EUR 18.2M, reflecting a balance between new loan issuance and repayments.

Loan origination volume decreased by 11.3% to EUR 6.3M. This decline was mainly driven by seasonal effects related to the tax return period in March and April, when customer demand for credit typically decreases. The increase in NPL 90+ days was expected and mainly reflects the impact of previous rapid expansion strategies. The figures are expected to stabilise over the coming reporting periods.

In response to lower seasonal demand, the company temporarily reduced marketing activity during the period and focused on portfolio quality. This approach supported stronger repayment behavior and lower provisioning needs, contributing to overall portfolio stability despite reduced origination volumes.

The business expects growth momentum to resume from May onwards, in line with normal seasonal patterns.

Romania

In Q1 2026, Viaconto Romania focused primarily on updating its existing product offering. This was a key business priority during the quarter and is expected to support stronger sales performance in Q2, following the launch of the adjusted product.

The net portfolio decreased by 49.35% to EUR 290.3K, reflecting the impact of the product update process and a more cautious business approach during the quarter. At the same time, loan volume increased by 10.39% to EUR 171.7K, indicating early signs of renewed origination activity.

Credit quality remained an important focus area during this quarter. In Q2, the focus will remain on portfolio quality and recoveries as the adjusted product is introduced and sales activity increases.

Overall, the Romanian market was focused on product improvements and portfolio quality during Q1. Looking ahead, the priority will be to support renewed growth while continuing to improve credit performance.