As the year 2024 is coming to its end, we can all take some time to relax, reset and enjoy the wonderful holidays with friends and family, and later on celebrate the New Year.
Since our establishment in 2012, it’s already the thirteenth time we would like to take a moment, look back and express gratitude to every one of you, for your ongoing support. We would also like to reflect on our operation in the past 12 months.
After the turbulent social and macroeconomic period of recent years, the year 2024 brought some stabilization, but the challenging environment has continued to persist. Interest rates are still at higher levels, but their correction and decline have begun. Geopolitical and social risks are still high. Despite the challenging period, Žltý melón, thanks to its clients, solid foundations, approach to risk management, and attractiveness of products, has grown every year, increased its portfolio, expanded its client base and further strengthened its financial performance. We are extremely pleased that this trend continued in 2024, which is again the most successful year in our history.
Loans provided during 2024 exceeded the threshold of 11 million EUR and again exceeded the level of loans provided in previous years. The most significant year-to-year increase, more than 33%, was achieved by newly provided real estate loans. The total volume of loans provided at Žltý melón have exceeded 58 million EUR. We have also achieved significant growth in the volume of revenues and the company's overall financial performance. The development of the quality and profitability of the portfolio at Žltý melón remains healthy, the default rate remains stable, and the overall portfolio provides above-standard profitability of investments for our clients. You can find the current and historical development of the portfolio at Žltý melón on our statistics page.
During the year, as a part of marketing, we have implemented a tool that actively monitors and adjusts our online campaigns using artificial intelligence elements. We have also expanded the network of partner companies. We have started cooperation with diverse offline and online networks of financial advisors, as well as other partners.
We have launched a new Employee Loans product, within which we provide employers with technical infrastructure and a complete service for providing employee benefits, such as paying salary advances and providing attractive employee loans. We have started the initial cooperation with significant employer in eastern Slovakia and we plan to gradually expand this new product to other partners and enable other people to obtain unique financial employee benefits.
Given the development of the market environment, we have adjusted several parameters of our risk model during the year, we have also adjusted the distribution between risk classes and basic loan rates.
We also continued to improve our system and have implemented a number of minor changes and improvements. We have also optimized our technical infrastructure and increased and expanded the layout and capacity of our servers, which has contributed to increasing the speed and stability of the site. We are fully aware of the site performance in this area, and it should be resolved by deploying our new website.
We are actively continuing to prepare our new website, which is undergoing a complete redesign and optimization. In addition to the new look of the user interface and significantly faster site responsiveness, we are also implementing several process innovations that, while maintaining the existing legal regime, will simplify processes and shorten the time needed to obtain a loan.
We are also preparing several new loan and investment products, as well as new partnerships. We will inform about all of them during the next year and we believe that they will improve user comfort and expand the possibilities of using Žltý melón. 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 and we believe that after a successful year 2024, our common year 2025 will be even more successful.
Thank you once again and we wish you all the best during the holiday season and in the New Year 2025!
Roman Feranec and Žltý melón team
