Equityline Group Announces A 176% Growth In Year-Over-Year Assets Under Administration (AUA)

• EquityLine Group has announced a significant growth of assets under administration (AUA) of registered mortgages under contract with EquityLine Mortgage Investment Corporation (JSE:ELMIC), EquityLine Service Corp. and EquityLine Special Purpose Vehicle (SPV) Limited Partnership. Assets as of December 31, 2021, were $33.3Mn compared with $12.1Mn on December 31, 2020, a 176% year-over-year growth. 
• EquityLine founder and CEO, Sergiy Shchavyelyev has noted that during 2021, EquityLine expanded its brokerage network, increased shareholder contributions and partnered with a Canadian Tier 1 Bank to launch an SPV Limited Partnership. These initiatives helped fuel the AUA growth in 2021. 
• He further noted that EquityLine is well positioned to continue to grow AUA throughout 2022 while maintaining its conservative underwriting principles. 
• As of September 2021, Equity Line reported a higher loss YoY despite an improvement in revenue. The higher revenue was tempered by an increase in interest and bank charges, unrealized foreign exchange loss and distribution to shareholders of redeemable preference shares. Notwithstanding, the increase in AUA should further support revenue growth.

 

(Sources: PIOJ & STATIN)