Since its inception in 2018, CreditPrime Moldova, a brand of Ecofinance, has emerged as a leader in online consumer lending, setting benchmarks in innovation, customer experience, and portfolio quality. As the first microfinance institution (MFI) in Moldova to offer 100% online services and a credit line product, CreditPrime continues to transform the lending landscape in the region. Supported by cutting-edge technology and compliance with rigorous regulatory standards, CreditPrime’s journey is a story of consistent growth, operational excellence, and forward-thinking initiatives.
Key achievements of CreditPrime Moldova
In 2024, CreditPrime demonstrated exceptional growth and stability across key financial and operational metrics. The high-quality loan portfolio, or “Good Book,” strengthened further, now representing 91% of the total portfolio, up from 89% in 2023, reflecting robust risk management practices. The volume of loans issued saw remarkable growth, driven by CreditPrime’s expanding market presence and increasing customer demand. This momentum was accompanied by continued revenue growth, showcasing the company’s ability to deliver consistent financial performance. Additionally, improvements in operational efficiency led to exceptional EBITDA growth and significant profitability increases, underscoring CreditPrime’s solid financial foundation and long-term sustainability.
CreditPrime’s portfolio experienced remarkable growth over the past year:
- 2023: MDL 93.1 million (€4.8 million)
- 2024: MDL 139.8 million (€7.7 million)
- Year-on-Year (YoY) change: +50% in MDL (+58% in EUR)
In 2024, CreditPrime achieved significant diversification in its funding sources, marking a major milestone in its financial strategy:
- 2023: The majority of funding came from shareholders and a smaller share from local banks.
- 2024: Nectaro emerged as a key funding partner, significantly increasing its contribution compared to the previous year. Additionally, funding from local banks grew more than fourfold, with a notable portion secured in December 2024.
This diversification reflects CreditPrime’s strengthened financial position and growing trust among institutional partners.
Pioneering innovations
Launch of instant payments
CreditPrime became the first MFI in Moldova to adopt the Instant Payments service offered by the National Bank of Moldova. This groundbreaking initiative allows customers to access 24/7/365 financing services, providing unparalleled convenience and flexibility.
Risk management and automation
CreditPrime leverages fully automated Risk Management tools and robust KYC/AML systems, ensuring compliance with Moldova’s “Responsible Lending” regulations. These advancements have enhanced the security and quality of the portfolio while maintaining fair-play principles for customers.
Moldova’s evolving financial landscape
Operating in Moldova, CreditPrime benefits from a recovering economy despite challenges related to regional instability. The country’s commitment to EU integration, structural reforms, and the adoption of best practices in consumer lending sets the stage for sustainable development. The implementation of the National Bank’s “Responsible Lending” regulation ensures fair treatment of customers while minimizing over-indebtedness risks.
