WiZink earns 4 million euros until September, compared to losses of 15 million

MADRID, 11 Dic. (EUROPA PRESS) -

WiZink recorded a net profit of four million euros in the first nine months of the year, compared to losses of 15 million euros in the same period of 2022, as reflected in the accounts released by the financial entity this Monday.

It should be remembered that the entity already came out of losses in the first half, when it obtained profits of 53,000 euros.

The recurring business result before taxes was eight million euros at the end of the third quarter of 2023, compared to 'red numbers' of 18 million euros in the same period of the previous year.

The gross margin fell by 7%, to 272 million euros, given the increase in financing costs in the current macroeconomic environment and the greater weight of new businesses (Aplazame, Lendrock and personal loans) in the bank's balance sheets, which They reached 358 million euros in balance. They have gone from representing 9% of the bank's total balance sheet at the end of 2022 to occupying 12% of the total balance sheets in the third quarter of 2023.

Likewise, 64% of the new clients in the period (260,000 clients) came from new businesses, while 44% of the bank's cross-sales were made through digital channels.

On the other hand, credit losses (financial assets at amortized cost) and expenses for other provisions have decreased by 13% compared to the same period of the previous year, to 129 million euros. The entity highlights that, although credit losses increased slightly as a reflection of the worsening macro environment, expenses for other provisions decreased considerably.

The entity also highlights that it has not made extraordinary provisions in this third quarter of 2023, neither for credit nor non-credit risk, while highlighting the 15% reduction in its operating costs to 136 million euros.