Expander Advisors increased profit to PLN 18.4 m last year
Warsaw, 26 Mar 2015 (ISBnews): Expander Advisors posted a 10-times rise in net profit to PLN 18.4 m in 2014. Last year, the Company brokered mortgage loans worth nearly PLN 3.8 bn in total, the Company reported. Operating profit (EBIT) was over PLN 8 m, which means a leap of more than 3.5 times with a nearly 24 per cent increase in sales revenues yoy up to PLN 130 m. “The company’s financial results can be credited to the consistently implemented business model and an innovation on the Polish market, founded on four pillars: a strong brand, an extensive range of products suited to every stage of life, independent and comprehensive services and experienced consultants. The handsome range of products from numerous partners helped the Company to broker nearly PLN 3.8 billion worth of mortgages in total over the entire 2014,” the communication reads. Since early 2012, Expander has also been systematically launching proprietary investment products where Poles put more than PLN 140 m of their savings only in 2014. Created with the largest insurance companies in the country, they offer customers better returns than bank deposits with certain capital protection. Investors have several options to choose from with a varying level of capital guarantee and expected return. Expander, a financial consulting company, opened its first office in December 2001 in Warsaw. The majority shareholder was Softbank. In 2003, a 100% stake in Expander was purchased by GE Investments, part of General Electric Company. Then, in December 2007, 60% of shares in the company were acquired by Innova Capital fund, which increased its holding to 100% in 2010.