NovaPay Credit, a subsidiary of the international financial services company NovaPay (TM NovaPay) from the Nova group, which is the issuer of NovaPay bonds, received UAH 19.80 million in net profit in the second quarter of 2025, which is 8.2% more than in the second quarter of 2024.
According to the company’s report on its website, gross profit for this period decreased by 5.3% to UAH 23.75 billion, while revenue increased 2.4 times to UAH 125.78 million.
Overall, in the first half of this year, NovaPay Credit increased its net profit by 52.2% compared to the first half of last year, to UAH 53.92 million, gross profit increased by 55.7% to UAH 70.07 million, with revenue growing 2.7 times to UAH 260.36 million.
According to the report, the company’s current accounts receivable for the half-year increased from UAH 784.77 million to UAH 1 billion 61.86 million.
It is noted that proceeds from the sale of bonds in January-June this year decreased slightly compared to January-June last year – to UAH 355.63 million from UAH 369.97 million, as did the costs of their redemption – to UAH 244.92 million from UAH 300 million.
At the same time, proceeds from repo agreements with bonds, which the company offers as an alternative to bank deposits, increased to UAH 705.88 million from UAH 392.25 million, while expenses under such agreements increased to UAH 422.03 million from UAH 320.81 million, and interest expenses increased to UAH 44.19 million from UAH 22.19 million.
As a result, over the first half of the year, liabilities under repo agreements more than doubled, from UAH 224.45 million to UAH 508.30 million, while obligations under bonds increased from UAH 190.32 million to UAH 285.21 million, and accrued interest – from UAH 9.09 million to UAH 39.31 million.
As reported, in 2023, NovaPay made three public issues of three-year interest-bearing bonds of series “A”, “B” and “C”, and last year issued six more series of bonds – “D”, “E”, “F”, “G”, ‘H’ and “I”, and this year – another series “J,” all for UAH 100 million.
According to the report, as of the middle of this year, the total volume of bonds issued amounted to UAH 990 million, of which bonds with a nominal value of UAH 203.09 million were not redeemed. Bonds of series “C” and “I” are sold directly to investors with the right of annual offer, while bonds of all other series are transferred as the subject of a transaction under REPO agreements for a term of up to one year, and the coupon income on them is paid upon maturity.
In early August this year, the National Securities and Stock Market Commission (NSSMC) registered the issue of Series K bonds worth UAH 100 million with a maturity date of August 6, 2028. Their public offering will begin on August 11, 2025, with a nominal interest rate of 18% per annum.
In addition, it was reported that NovaPay Credit will issue series L bonds worth UAH 100 million, which will be the 12th such series in the overall issuance program. It is stated that the funds raised are planned to be used for lending to individuals and legal entities, 80% and 20%, respectively.
According to the prospectus, NovaPay Credit plans to increase its interest income to UAH 802.1 million this year and to UAH 1 billion 515.1 million next year, and to receive UAH 518.9 million and UAH 1 billion 30.6 million in net profit, respectively.
Last year, the company’s net profit grew to UAH 89.2 million from UAH 40.3 million a year earlier, with revenue increasing to UAH 285.6 million from UAH 95.6 million.
