The pawnshop is starting to land on the stock exchange with ProntoPegno

The pledge proved to be a financial instrument to support the liquidity of Italian families. It allows you to obtain a loan by pledging a valuable asset as collateral. Now this instrument, which has its roots in the distant Middle Ages, is preparing for the landing at Piazza Affari. It will do so through the listing of ProntoPegno, the pawnbroker that Banca Sistema controls through Kruos Kapital, and one of the largest operators on the pawnshop market in Italy. Yesterday the Board of Directors of Kruso Kapital (of which Banca Sistema holds a stake equal to 75% of the share capital) approved the start of the listing process on the market Euronext Growth Market of the Italian Stock Exchange. The listing could take place in 2023 based on market conditions.

According to a statement, yesterday the board of directors of Kruso Kapital gave the go-ahead for the financial statements as at 31 December 2022, closed with a net profit of €2.3 million. On a commercial level, the company, with its network of 14 branded branches ReadyPledge in Italy, it generated volumes of euro 179 million, up 16% y/y (euro 154 million in 2021). Loans at the end of last year amounted to euro 107 million, up 19% y/y. The combined effect of rising margins and higher volumes generated a gross operating income of euro 15 million in 2022, up 28% y/y.

Growth has also come thanks to innovation. At the beginning of January, the company announced that during 2022, the digital product development initiative was consolidated and met with great success through theApp Digital Pledge, which reached over 10,000 registered users, 9,000 online policy renewals (in constant growth month on month) and 14,000 digital offers at auction. The DigitalPegno App is the first and only platform in Italy to offer the online policy renewal service as well as allowing participation in auctions by presenting offers in a totally digital way.