The loan portfolio of the newly established Lithuanian PayRay bank in Latvia and Lithuania has reached 52 million euros in the first quarter of this year. In Latvia, “PayRay” bank is represented by 100% subsidiary SIA “PayRay”, informs the bank.
In addition to business loans, factoring, corporate working capital and investment financing solutions, PayRay Bank plans to start offering leasing services both in Latvia and Lithuania this year.
PayRay’s corporate loan portfolio increased fivefold last year, from € 3.1 million to € 15.39 million. The retail customer deposit portfolio, which the bank started building only in December 2020, has reached 6.09 million euros (DepositRay offers deposits in Lithuania and Germany through the Raisin.com platform).
At the end of 2020, the bank’s factoring portfolio reached 22.13 million euros. In 2020, in total, PayRay Bank financed more than 59.3 thousand customers, the average amount of financing reaching 2761 euros per customer. The average financing term of customers was 49 days.
“PayRay Bank came to Latvia only at the end of last year, but we are already actively financing Latvian companies. We are currently experiencing special activity in the agricultural sector and therefore we have created a separate lending support program for farmers “We provide short-term financing for the purchase of machinery necessary for the long-term development of farms: tractors, combines, seeders and their equipment. PayRay “manager Marek Basankovich.
SIA “PayRay” in Latvia provides financing to companies in all sectors – granting both factoring and short-term and long-term loans from 50,000 euros to 6.5 million euros per customer.
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