Pay day loans firm Ferratum expecting big UK development
LONDON (Reuters) – pay day loans firm Ferratum is anticipating fast development in Britain this season, and its leader stated worries over jobless as well as the sometimes punishing interest levels linked to the loans hadn’t dented need from clients.
“We are expectant of a increase that is huge our numbers in Britain with this year. Individuals like to undertake a small loan, they don’t like to go directly to the bank for a more impressive loan,” CEO Jorma Jokela told Reuters in a phone meeting.
Ferratum premiered in 2005 and it is majority-owned by Jokela, whom states the company that is finland-headquartered the greatest with its sector in European countries.
It benefited from the conventional Christmas time shopping period to win a few thousand new British customers in December, whom took in short-term loans to get gifts, having a fourfold upsurge in applications because of its loans from November to December.
Over the combined group, client figures rose to 1.1 million last year from 650,000 this year. Its long-term objectives consist of reaching a lot more than 10 million clients by 2014, with operations on all five continents along side its core market that is european.
Jokela said Ferratum remained a profitable company. He stated it had a pretax revenue figure which was a “double-digit number.”
The organization established in Britain in 2011 july. (more…)
