Loans at Home receives full FCA authorisation

RNS Number : 3506F

Non-Standard Finance PLC

17 May 2017

 

Non-Standard Finance plc

('Non-Standard Finance' or,

together with its wholly-owned subsidiaries, 'Group')

Loans at Home receives full FCA authorisation

17 May 2017

Non-Standard Finance is pleased to announce that Loans at Home, the Group's home-collected credit business, has received its full FCA authorisation.

For more information:

Non-Standard Finance plc Peter Reynolds, Director, IR and Communications

[phone]

Bell Pottinger Dan de Belder Aarti Iyer Molly Stewart

[phone]

About Non-Standard Finance

Non-Standard Finance plc is listed on the main market of the London Stock Exchange (ticker: NSF) and was established in 2014 to acquire and grow businesses in the UK's non-standard consumer finance sector. Under the direction of its highly experienced main board, the Company has acquired a sustainable group of businesses offering credit to the c.10-12 million UK adults who are not served by (or choose not to use) mainstream financial institutions. Its three business areas are: unsecured branch-based loans, home-collected credit and guaranteed loans.  Each business now has access to increased levels of funding and has benefited from stronger management controls; has refined its product pricing in a number of areas; has introduced new compliance protocols; and is investing in new IT infrastructure and systems. These changes have been implemented to balance the delivery of improved customer outcomes with the generation of substantial returns for shareholders.  In the year ended 31 December 2016, the Group generated reported revenue of £72.6m; pro forma normalised revenue of £94.7m; reported operating loss of £5.2m and pro forma normalised operating profit, before temporary agent commission, of £20.5m.  As at 31 December 2016, the Group had a combined loan book of £165m (before fair value adjustments).

 

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