Largest non-bank lender announces record profits and new lending for 2017
- Profit before tax rises to €8.3m (an increase of 226% on continuing operations*)
- Record new lending of €435m to SMEs, property owners, farmers and consumers
- New lending in Commercial Mortgages up 328% to €123 million
- SME leasing up 50% to €42 million – €30m backed by SBCI
- Motor Finance record lending of €243 million
- Finance Ireland Group, Ireland’s leading non-bank lender, has announced record profits and new lending for 2017.
- The company competes in SME leasing, commercial property lending, motor finance, and agri-finance.
- Finance Ireland’s accounts for 2017 show an increase in profits to €8.3m. This represents a rise of 226% on continuing operations.
- Net revenue grew 54% to €26.3m.
- Company now employs 112 dedicated finance professionals with plans for further growth
Commenting on the results, Finance Ireland CEO Billy Kane said:
“This was a great year. We increased lending across all of our divisions and are now the non-bank lender of choice to SMEs, property owners, farmers and consumers through our specialist lending teams”
*the group recognised a profit of €3.8m in 2016 in relation to the disposal of non-core businesses
Issued on behalf of Finance Ireland by Gordon MRM
Ph: 087 2417373