As the year 2023 is coming to its end, we can all take some time to relax, reset and enjoy the wonderful holidays with friends and family, and later on celebrate the New Year.
Since our establishment in 2012 it’s already the twelfth time that we would like to take a moment, look back and express gratitude to each and every one of you, for your ongoing support. We would also like to reflect on our operation in the past 12 months.
After the turbulent period of previous years affected by the pandemic, war in a neighbouring country, energy shocks, high inflation and higher interest rates, the year 2023 has brought some stabilization, but the unstable social and macroeconomic environment continued. Despite this difficult period, Žltý melón thanks to its clients, solid foundations, approach to risk management, and attractiveness of products, grew rapidly each year, has enlarged its portfolio, expanded its client base, and have further strengthened its financial performance. We are extremely pleased that this trend continued also this year, and despite the ongoing challenging environment, 2023 was once again most successful year in our history.
Loans provided during the year 2023 exceeded the threshold of 11 million EUR and achieved a 7% increase. An even more significant year-on-year increase, more than 40%, was achieved by newly provided real estate and non-purpose loans. In total, the volume of loans provided at Žltý melón exceeded the sum of 47 million EUR. We have also achieved significant growth in our revenues and financial performance of the company. The development of the quality and profitability of the portfolio at Žltý melón continues and the growth of the portfolio was achieved by stable low defaults and above-standard profitability of investments for our clients. You can find more information about the current and historical development of the portfolio at Žltý melón on our statistics page.
During this year, we have actively expanded the network of our partner companies. We have started cooperation with other networks of financial advisors, as well as with several real-estate developers, and added new real estate projects in which we offer financial solutions for future apartment owners.
We have continued to improve our system and have prepared several new products and functionalities. Let us mention a few main ones. We have introduced a new real estate loan product that can replace a bank mortgage or help the client quickly get money until they settle their new home. We have introduced the option of extraordinary loan instalments, when the borrower can use free money to reduce future instalments. We have done regular comprehensive analysis, revision and optimization of our risk matrix and evaluation model. We've launched a new version of our investor mobile app for Android and iOS. Within the application, we have developed a completely new system for obtaining data from the database, which is much faster and more stable. In the future, we will also use this method to optimize and speed up work with the user account via the website.
Currently we are mainly focused on a comprehensive redesign and optimization of our website. We are also preparing several new loan and investment products, as well as new partnerships. We will inform about all of them during the next year and we believe that they will improve user comfort and expand the possibilities of using Žltý melón. Our main goals remain a wide range of suitable loan products for borrowers, maintaining high returns of our clients' investment portfolios and the company's healthy finances.
We will not idle in the future either and we believe that after a successful year 2023, our common year 2024 will be even more successful.
Thank you once again and we wish you all the best during the holiday season and in the coming New Year 2024!
Roman Feranec and Žltý melón team
