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  5. IN BRIEF: Fiinu loss balloons amid higher administrative costs

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IN BRIEF: Fiinu loss balloons amid higher administrative costs

Thu, 08th Jun 2023 12:10

Fiinu PLC - Weybridge, England-based digital bank that offers short-term credit to consumers via an arranged overdraft - Posts loss of GBP8.2 million for the period to December 31, as company shifts its financial year to be aligned with the calendar year. Does not define when period started. Compares this to a loss of GBP975,187 for the financial year before, which ended on March 31, 2022. Administrative expenses increase to GBP8.2 million from GBP973,965. Looking ahead, company focuses on securing GBP34 million to GBP42 million of capital and a full unrestricted banking licence in the second half of 2023.

Current stock price: 7.51 pence, down 3.1% on Thursday

12-month change: down 67%

By Tom Budszus, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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