Business
MoneyMe beats prospectus, chases buy now, pay later – The Australian Financial Review
The personal lender reported a small profit, a big jump in new loans and plans to introduce new buy now, pay later products for housing, rent and solar.
The loan impairment expense of $6.4 million was just below forecast but up 28 per cent on 2019 as the company took a conservative approach to potential losses from the crisis by adding additional overlays. Total provisions represent 9.6 per cent of the gross loan book.
The company expects loan originations in 2021 to be higher as new products are launched and expected impairments to trend down as the economy recovers.
MoneyMe floated at a price of $1.25 and closed on Tuesday at $1.44 after a f…
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