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Payday lender Wonga saw losses double in 2015
Payday lender Wonga saw losses double in 2015
This is a duplicate of the Blog Entry made on: 4th May 2016 19:24
This is a duplicate of the Blog Entry made on: 4th May 2016 19:24
The UK's biggest payday lender - Wonga - saw its losses double last year as tougher regulation in the industry continued to bite.
The short-term lender saw pre-tax losses grow from £38.1m in 2014 to £80.2m last year. It has overhauled the way it assesses applications for credit, and extended the repayment term for some loans. However, it suggested 2016 would be a "turning point" in its financial performance. The company, along with other payday lenders, faces tougher rules from the regulator, the Financial Conduct Authority (FCA), which has ruled that customers must go through stricter affordability checks......Read more here
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Wonga Crashes To £35m Loss After Torrid Year Link
The short-term lender saw pre-tax losses grow from £38.1m in 2014 to £80.2m last year. It has overhauled the way it assesses applications for credit, and extended the repayment term for some loans. However, it suggested 2016 would be a "turning point" in its financial performance. The company, along with other payday lenders, faces tougher rules from the regulator, the Financial Conduct Authority (FCA), which has ruled that customers must go through stricter affordability checks......Read more here
Read more from our aad Blog pages:
Wonga Crashes To £35m Loss After Torrid Year Link