- Beltone Mortgage Finance, a subsidiary of Beltone Financial Holding, completed the doubling of its issued capital from USD 31.8 million to USD 63.6 million, supporting its aggressive growth strategy and meeting rising demand for real estate financing solutions.
- Beltone Financial Holding returned to profitability in the first nine months of this year, with a significant improvement from a cumulative loss of USD 8.9 million in the same period last year, driven by strategic restructuring efforts.
- The company reported a surge in total revenues to USD 61 million during the first nine months, a substantial increase from USD 16.5 million in the corresponding period of the previous year.
Beltone Financial Holding revealed that its subsidiary, Beltone Mortgage Finance, has completed the process of doubling its issued capital from USD 31.8 million to USD 63.6 million, according to media reports.
The company has increased its paid-up capital from USD 9.5 million to USD 31.8 million.
The capital increase is aimed at supporting the company’s aggressive growth strategy and meeting the increasing demand for real estate financing solutions among individuals and businesses.
Beltone Financial Holding returned to profitability in the first nine months of this year, following three years of cumulative losses totaling USD 5.5 million.
This marks a significant improvement from the USD 8.9 million in accumulated losses reported for the same period last year, supported by the group’s strategic restructuring.
The company’s total revenues surged to USD 61 million during the first nine months of the year, a substantial increase from USD 16.5 million in the corresponding period of the previous year.
The investment bank’s operational revenues reached USD 12.6 million, while Beltone Securities Trading’s margin trading portfolio expanded to USD 39.7 million by the end of September, marking a 109% year-on-year growth. Concurrently, the assets under management swelled to USD 1.5 billion.
The financial leasing portfolio witnessed remarkable growth, reaching USD 226.4 million at the end of September, which is 6.3 times the size compared to the same period last year.
The consumer financing portfolio also grew, reaching USD 70.3 million with a client base of 7,000 customers.
If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.
