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DGAP-News 4finance S.A.: 4finance report on 6M 2020 results

Nachrichtenquelle: EQS Group AG
28.08.2020, 14:00  |  188   |   |   

DGAP-News: 4finance S.A. / Key word(s): Half Year Results
4finance S.A.: 4finance report on 6M 2020 results (news with additional features)

28.08.2020 / 14:00
The issuer is solely responsible for the content of this announcement.


4FINANCE HOLDING S.A. REPORTS RESULTS FOR THE SIX MONTHS ENDING 30 JUNE 2020
 

Proactive business response to Covid-19, providing continuous service to customers and adapting products.
 

Consumer demand increasing since mid-May with online issuance in July returning close to normal.
 

Strong liquidity position following bond extension and further bond buybacks in July.
 

28 August 2020. 4finance Holding S.A. (the 'Group' or '4finance'), one of Europe's largest digital consumer lending groups, today announces unaudited consolidated results for the six months ending 30 June 2020 (the 'Period').
 

Operational Highlights
 

- Maintained strong, proactive operational response to Covid-19. Rapidly adapted operations in March, moving over 2,000 staff across 16 countries to working from home. Ongoing focus on ensuring employee safety and providing continuous service to customers.

- Continued to provide credit to loyal customers, with acceptance rates for returning customers in shorter term products maintained within 5 percentage points of usual levels in most markets in the second quarter. Overall repayment behaviour in April was slightly below normal levels but improved during the quarter, with June above average.

- Supported customers whose plans were disrupted, with early and proactive measures including discounted or free payment deferrals, reinforced by similar regulatory measures in many markets. Requests for payment deferrals were concentrated in TBI Bank, Armenia and the Czech Republic during Q2 and those programmes have either subsequently ended (Armenia) or are expected to end soon.

- Market-wide customer demand for loans reduced during the initial Covid-19 related lockdown periods in many markets from mid-March before recovering from mid-May onwards. The Group reduced its marketing spend in Q2 and tightened aspects of its underwriting criteria, particularly for new customers. Compared to the January-February average, online loan issuance volumes were at 89% in March, 53% in April, 64% in May, 76% in June and 85% in July.

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DGAP-News 4finance S.A.: 4finance report on 6M 2020 results DGAP-News: 4finance S.A. / Key word(s): Half Year Results 4finance S.A.: 4finance report on 6M 2020 results (news with additional features) 28.08.2020 / 14:00 The issuer is solely responsible for the content of this announcement. 4FINANCE HOLDING …

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