27 September 2017 – interim results
The AIM quoted specialist bank has issued a positive trading statement for the year to 30 September, revealing that results will be ahead of expectations as trading in the first eleven months of the year has been strong. The group began taking retail deposits on 27 July and has already received £51m of funds – a greater level than expected. The group’s portfolio of finance receivables has grown 17.5% in the period to £141.6m (31 August 2016: £120.5m) whilst the loan loss impairment charge stands at a record low of 0.5%. This is an encouraging statement and the shares remain a BUY.