Profile
MCB Finance Group plc is a consumer finance company providing fast, convenient, easily understood and flexible credit solutions under the Credit24 brand name to retail customers in Finland and the rapidly growing Baltic countries of Estonia, Latvia and Lithuania (the Fenno-Baltic Region).
MCB Finance is quoted on the AIM market of the London Stock Exchange (ticker: MCRB).
Established in 2006, MCB Finance is growing strongly. We advanced €24 million in loans last year – including €10 million from October to December – with a large proportion of these made to returning customers. The Company's Credit24 brand is well established as a provider of flexible loan products, supported by our advertising activities, attractive product offering and high levels of customer service.
Our Credit24 products include unsecured loans between €100 and €2,000 to qualifying customers, with maturities between one month and two years. Applications are made through the Company’s Credit24-branded websites in each country, as well as through certain distribution partners such as the Latvian Post. Loan products are designed to suit customers' needs with simple and transparent terms and flexible repayment schedules.
The markets for unsecured consumer credit in the countries where the Company operates are relatively under-developed and experiencing rapid growth. Since launching the business in late 2006, the Company has become one of the leading participants in the non-standard lending market. This segment is typically under-served by larger financial institutions, and attracts customers who value the flexibility and simplicity of the products offered.
MCB Finance’s management team has extensive experience addressing the opportunities and challenges of growing an international business, and has built an organisation with strong marketing, credit, technology and customer care competencies. MCB Finance’s proprietary technology platform manages our credit extension, monitoring and CRM processes, and we work with local partners to handle specialist areas such as collection and invoicing. This combination of organisational experience, technology and partnership enables us to deliver, cost-effectively, a high level of customer service.
MCB Finance places the highest priority on its risk management and ability to manage change. We constantly monitor credit performance and operational processes, and continue to invest in our customer service and credit risk evaluation systems. In addition, MCB Finance maintains good relationships with financial institutions to support a growing loan portfolio.
During the past two years the Company has progressed successfully from start-up and is now an established business in four countries, with a well recognised brand name, recurring revenues, robust growth and significant opportunities for continued expansion. We continue to develop the business in line with the significant opportunities available in our markets.