Pre-close trading update
30 June 2010
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.
Since the previous update on 11 May 2010, MCB has continued to make good progress.
The four economies in which the Group operates remain stable, although economic growth remains subdued. The decision to admit Estonia into the Euro zone, with entry scheduled for January 2011, provides strong endorsement of the stability of the region.
MCB has maintained steady lending volumes compared to the second half of 2009 despite restrained demand reflecting still subdued levels of consumer confidence.
The Group's credit quality has continued to improve in all markets, benefiting substantially from ongoing improvements to our credit scoring models and credit extension processes.
Overall, we are seeing continued stability in the wider economy and our market segment following a challenging period. The focus is on continued improvements to our lending operations and gradual lending growth while maintaining credit quality.
The Group's interims will be published during the first week of September.
Further information:
| MCB Finance Group plc: | |
| Rami Ryhänen, Chief Executive rami@mcbfinance.com |
+372 5300 8332 |
| Henry Nilert, CFO henry@mcbfinance.com |
+358 451 370 065 www.mcbfinance.com |
Media enquiries:
| Allerton Communications: | |
| Peter Curtain peter.curtain@allertoncomms.co.uk |
+44 20 3137 2500 |
Nominated adviser and broker:
| Fox-Pitt, Kelton Limited: | |
| Jonny Franklin-Adams | +44 20 7065 2000 |