As the year 2022 is coming to its end, we can all take some time to relax, reset and enjoy the wonderful Christmas holidays with friends and family, and later on celebrate the New Year.
Since our establishment in 2012 it’s the eleventh 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.
The year 2022 was affected by turbulent social and macroeconomic environment, and after years with the COVID-19 pandemic, it did not bring the desired release. Despite this, it has been confirmed that, thanks to its clients, approach to risk management and range of investment and credit products, Žltý melón stands on very solid foundations and is prepared to face major challenges. Despite the challenging external environment, 2022 was the most successful year in our history.
Loans provided during 2022 have exceeded the threshold of 10 million. EUR and have recorded a significant year-on-year increase of 80 %. In total, the volume of provided loans exceeded the amount of 35 million EUR. We have achieved a similar trend in the increase of our revenues and financial performance of the company. The development of the quality and profitability of the portfolio at Žltý melón continues to be very healthy, and we have achieved our growth with stable low defaults and above-standard profitability of the investment portfolio for our clients. You can find the development and profitability of the Žltý melón portfolio on our statistics page.
As part of the system development and operation, we continued to optimize, automate and streamline internal and external processes, the main goal of which is to improve the quality of our services, as well as to absorb higher numbers and volumes of processed loans and investments. This is especially important because the company will be able to maintain its positive financial performance and long-term functioning even with further growth of the portfolio.
In addition to the optimization of processes, we have introduced and launched a program of increased liquidity, which provides investors with a shorter tie-up of resources in loans and, if necessary, quick access to invested money. We have also introduced automated campaigns and offers for borrowers to get additional loans or to refinance existing loans with the option of obtaining additional resources. Last but not least, we have increased the maximum amounts of non-purpose and real estate loans and extended their maturity so that in these parameters they are equal to the loans offered to clients by banks.
We are also working intensively on our new mobile application, which will be available for devices with the Android operating system, as well as iOS (Apple products). We originally planned to present the application this year, but since we are introducing a lot of new functionalities and also introducing a new way of obtaining data, it took us longer to develop it. However, we are currently in its testing phase, and we will make it available to you at the beginning of next year. We believe that its attractiveness and functionality will make up for the longer waiting time. From the start the new application will contain most of the functionalities available in the web interface and we will gradually add others so that the mobile application will be a full-fledged alternative to the web account in the foreseeable future.
In addition to new version of the application and its further development, we would like to launch a gradual complete redesign of our website, web processes and web account. As part of building a new application, we have completely redesigned the way we retrieve data from the database. This approach is much faster and we will also use it when updating the pages of the web account, which will achieve a faster loading speed for those pages that are rich in data, even at peak traffic.
In addition to improving your user environment and comfort, we also do not forget about new products. We are already preparing other attractive credit and investment products, which we would like to launch in 2023. 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 2022, our common year 2023 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 2023!
Roman Feranec and Žltý melón team
