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PCF Group expects growth despite turbulent year

By BFN News | 09:26 AM | Thursday 01 October, 2020


Banking company PCF Group expects its portfolio to have grown 30% in the 12 months to the end of September when it publishes its preliminary results. In a trading update this morning, the company said it had tightened its credit risk appetite during the year, raising the percentage of prime lending to 83% - up from 74% a year earlier. Investment into infrastructure and technology helped maintain service levels, PCF said. New business volumes were expected to be approximately £260 million, down from £276 million in the previous year. The company said its "strong balance sheet, diversified and secured lending portfolio and experienced management is ameliorating the impact of the Covid-19 pandemic on the group". At 9:26am: (LON:PCF) PCF Group PLC share price was +0.25p at 18.75p Story provided by StockMarketWire.com

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