29 August 2017. 4finance Holding S.A. (the ‘Group’ or ‘4finance’), Europe’s largest online and mobile consumer lending group, today announces unaudited consolidated results for the six months ending 30 June 2017 (the ‘Period’).
Mark Ruddock, CEO of 4finance, commented:
“These results evidence the growing scale and geographic reach of 4finance. With revenue growth of 17% and profit before tax of EUR 35.3 million, our first half performance also demonstrates the benefits of our diversification. The quarter-on-quarter revenue growth of 4% and the quarterly reduction in the cost to revenue ratio are encouraging early signs of our drive to optimize performance as we prepare for further growth in the business.
“I am excited at the opportunity ahead for 4finance. Today, some 2.6 billion consumers globally remain underserved by traditional financial products; breakthroughs in data science and analytics are enabling new methods of scoring those with limited credit histories; we are seeing unprecedented access to the internet via increasingly ubiquitous and inexpensive mobile devices; and the millennial generation are breaking old conventions about the nature of financial products and how they are consumed.
“4finance is uniquely positioned to take advantage of these trends. The simplicity and transparency of our products, our experience in alternative scoring methodologies, our geographic diversification and the fact that over 50% of our customers now interact with us on mobile devices is a solid foundation on which to pursue this global opportunity.
“We welcome Robin Jose as Chief Data Officer and Elaine McKinney as Chief Compliance Officer. These roles reflect the importance of us being both a data-driven and a responsible lender. We respect Manu Panda’s decision to return to Asia for family reasons and welcome Stephen Buechner as CRO to lead our overall risk management efforts. Lastly we thank Martins Baumanis for his great contribution to the business over the last 6 years as he steps down in September.”