MCB Finance Group plc

Pre-close trading update

MCB Finance Group plc (AIM: MCRB.L) ('MCB' or the 'Group'), the consumer finance company providing flexible credit solutions to retail customers in Finland, Estonia, Lithuania and Latvia, announces this pre-close trading update.

Financial performance improved materially during the second half of the year compared to the first half and the Group anticipates being EBT profitable in the second half. However, full year results are expected to show an EBT loss, in line with market expectations, as a result of the first half pre-tax loss.

Credit performance has continued to improve as a result of the significant changes to credit criteria implemented during the year. The performance of more recent lending pools is now back at levels last seen in early 2008, despite continued weak economic conditions in all markets. Collection performance has benefited from the reorganisation of our collection processes, resulting in better recoveries.

MCB has maintained a cautious approach to lending as it has remained focused on strengthening its credit scoring capabilities, collections and organisation. With these initiatives nearing completion we will be looking to gradually increase lending volumes over the coming periods.

Rami Ryhänen, Chief Executive, said: "In response to unprecedented market conditions we have had to take a number of measures which are achieving the intended results. While continuing to take a cautious approach to risk, we look forward to achieving increased lending volumes followed by improvement in the Group's financial performance."

Full year 2009 results will be announced in early March 2010.

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