Time Finance's Secured Lending Portfolio Exceeds £100m Milestone
Why we think this is good
The RNS announcement highlights the continued strong growth in Time Finance's Hard Asset lending portfolio, which has reached a new record high of £103 million. This demonstrates the company's successful execution of its strategy to focus on secured lending, with the Hard Asset and Invoice Finance books now representing 80% of the total lending portfolio. The consistent month-on-month growth in the Hard Asset portfolio over the past 41 months is a positive indicator of the company's performance and future prospects.
Key Points
- Hard Asset lending portfolio reaches record high of £103 million
- 41 consecutive months of growth in the Hard Asset lending portfolio
- Hard Asset and Invoice Finance lending books now represent 80% of the Group's total lending portfolio
Summary
Time Finance plc, the AIM-listed independent specialist finance provider, has announced that its Hard Asset lending portfolio has reached a new record high of £103 million, a 21% increase since the last financial year-end. The Hard Asset lending portfolio has now increased in size month-on-month for 41 consecutive months, highlighting the company's commitment to driving own-book secured lending - a key pillar of the Group's stated strategy of growing its overall lending book to over £300m in 2028. The combined Hard Asset and Invoice Finance lending books now represent 80% of the Group's total overall lending portfolio.