DGAP-News

4finance report on preliminary FY 2016 results - Seite 2

- Record online loan issuance in fourth quarter, exceeding EUR 100 million each month, with a growing contribution from Argentina and Mexico.

- Continued product diversification in existing European markets: launch of instalment loans in Czech Republic in December 2016 (kimbi.cz) following launches in Spain and Romania earlier in the year.

- TBI Bank delivered a strong financial performance in Q4, and regulatory applications are in process for passporting of credit card licenses and portfolio transfers.

- Completed transition to two-tier board structure: Mark Ruddock joins Supervisory Board and Kieran Donnelly steps down from management boards.

George Georgakopoulos, CEO of 4finance, commented:

"With revenue growth of 24% and net profit of EUR 63.2 million, our full year results continue a strong track record of delivering solid profits and growing the business. In a year of market changes, we have strengthened our competitive position in Europe and established the foundations for future growth, particularly in Latin America.

"TBI Bank continues to see growth in both consumer lending and deposits in a liquid local market. We are working closely with European regulators on a number of initiatives to use the bank's capabilities to introduce new products such as credit cards in select markets and to lower our effective overall funding cost for online loans.

"As a responsible lender, we welcome the introduction of new regulation due in a number of markets in 2017/18. We continue to make the positive case for access to online credit for consumers and the value of our products. Regulators increasingly recognise the value of meeting the demand of under-served borrowers within a regulated sector and we believe we are well positioned to meet this need.

"Our confidence in future growth builds on the significant scale, diversification, brand positioning and capabilities of the Group. As Kieran Donnelly leaves us after three years as CEO and then Chairman, we thank him for his significant contribution in establishing that platform."

Conference call

A conference call with management to discuss these results is scheduled for Thursday, March 2 at 15:00 UK time. To register, please visit www.4finance.com/investors.