Non-Standard Finance PLC Loans at Home receives full FCA authorisation (3506F)
May 17 2017 - 2:00AM
UK Regulatory
TIDMNSF
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 +44 (0) 20 3869
Communications 9026
Bell Pottinger
Dan de Belder
Aarti Iyer +44 (0) 20 3772
Molly Stewart 2500
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 GBP72.6m; pro forma normalised
revenue of GBP94.7m; reported operating loss of GBP5.2m and pro
forma normalised operating profit, before temporary agent
commission, of GBP20.5m. As at 31 December 2016, the Group had a
combined loan book of GBP165m (before fair value adjustments).
This information is provided by RNS
The company news service from the London Stock Exchange
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