Easy Asset Management booked 3.423 mln leva (1.75 mln euros) revenue for the first quarter of 2008, up by 309% compared to the corresponding period of 2007. The profit of the company jumped by 612% to 1.068 mln leva (546,000 euros).

The company's return on equity stood at 32% in the first three months of 2008, compared to 20% for the year-ago period.

The volume of the home collected micro credits extended by the company stood at 10.089 mln leva (5.15 mln euros) in the first quarter of 2008, an over three-fold year on year increase compared to the corresponding period of 2007.

The volume of all credits extended by the company as at March 31, 2008 stood at totaled 15.67 mln leva (8.01 mln euros), up 343% year on year. The figure stands at 80% of the portfolio of the company for the entire 2007.

“The growth may be put down to the development of the company through the popularization of the product and the expansion of its client base, Bilyana Valkova of BenchMark Finance, which will organize Easy Asset Management's stock exchange listing, said. The network of the company comprises 53 offices and over 1,000 mobile credit consultants throughout the country, Valkova added.

The Board of Directors of Easy Asset Management has decided to launch the initial public offering of shares of the company by the end of the year and to list the stock for trade on the Bulgarian Stock Exchange (BSE).

Easy Asset Management will use the proceedings from the capital raise to expand its operations through boosting its credit portfolio and developing new products. The company will also be the first non-banking lending institution to float on BSE.