DGAP-News 4finance S.A.: 4finance report on 9M 2020 results
DGAP-News: 4finance S.A. / Key word(s): 9 Month figures
4FINANCE HOLDING S.A. REPORTS RESULTS FOR THE NINE MONTHS ENDING 30 SEPTEMBER 2020
Proactive business response to Covid-19, providing continuous service to customers and adapting products.
Strong performance from TBI Bank and focusing online business on core products & markets.
Solid capital and liquidity position with no maturities until 2022.
20 November 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 nine months ending 30 September 2020 (the 'Period').
- Maintained proactive operational response to Covid-19, including recent second wave. Seamless move back to working from home in relevant markets based on process implemented successfully in March. Ongoing focus on ensuring employee safety and providing continuous service to customers.
- Strong customer repayment dynamics observed throughout Q3 enabled underwriting criteria and acceptance rates to be restored close to normal levels for new and existing customers in most products by the end of the quarter.
- Support made available for customers whose plans have been disrupted, with early and proactive measures including discounted or free payment deferrals. New entry to all regulatory-driven programmes has now finished and there is minimal take-up of voluntary measures. No adverse effect seen in performance of customers coming out of payment deferral periods in relevant markets (Czech Republic and TBI Bank) compared to the rest of the portfolio.
- Market-wide customer demand for loans had recovered by early Q3 in most markets, with loan issuance in the third quarter in continuing products reaching pre-Covid levels. The Group made targeted marketing investments in the third quarter to support this, with spend increasing from a low point in Q2.