“The biggest impact on the first quarter results was the decrease in the value of the proprietary investment portfolio. Fluctuations are a natural part of the investment cycle in an environment of geopolitical and economic uncertainty. We maintain a long-term strategy – consistently developing asset management and family office activities in the region and actively investing both in the Baltic countries and international markets,” said Darius Šulnis, CEO of Invalda INVL, in a statement.
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The overall impact of other proprietary investments on the result was negative – 1.3 million euros. The results of “Artea” bank met expectations, but the correction in the share price had about a 3 million euro negative impact on Invalda INVL’s result.
The largest Moldovan bank maib, which earned 22.9 million euros in net profit, improved Invalda INVL’s result by 0.6 million euros, and the food supply chain business group “Litagra” – by 1.1 million euros.
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Invalda INVL’s equity at the end of March was 256.3 million euros, 14% higher than at the same time last year, and client assets in the first quarter – 2.1 billion euros – were 9.3% higher.
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