Motor Trade Finance lifts annual net profit 9.3%

Mon, 26 Nov 2018

By Jenny Ruth Nov. 26 (BusinessDesk) - Motor Trade Finance lifted annual net profit 9.3 percent on solid lending growth but says it was a game of two halves. “After a record-breaking 2017, the first half of the year continued strongly. Demand for the non-recourse product, introduced in 2016 in conjunction with Oxford Finance, dropped in April after tighter underwriting criteria was introduced in order to improve credit quality,” MTF says in a statement. Net profit for the year ended September rose to $8.2 million from $7.5 million the...

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