trevor
Member of DD Central
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Post by trevor on Mar 3, 2023 17:07:48 GMT
I have read FC lost £12.9 million in 2022 as their Covid loan business dried up and they returned to conventional loans. How much longer can this company keep losing money? Hopefully at least as long as it takes to get to the point where there are only a few pennies outstanding in our retail accounts.
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keitha
Member of DD Central
2024, hopefully the year I get out of P2P
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Post by keitha on Mar 3, 2023 17:46:59 GMT
Funding Circle reported a 35% year-on-year drop in originations to £1.5bn in its 2022 results on Thursday, in line with expectations.
The London-listed company said loans under management were down 16% to £3.7bn due to early repayments of CBILS loans in the UK and PPP loan forgiveness in the US.
Operating income was £131.4m, down 21% from the prior year, while investment income was down 58% to £17.3m.
The firm's net assets remained "healthy" at £284.0m, including a cash balance of £177.7m.
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