US business yanks Finbond profits

Specialist lending company Finbond’s US operations offset a dismal performance by its local businesses in the six months to end August.

The group said the biggest blow to bottom line stemmed from the transition of SA Social Security Agency customers to the new SA Post Office card in the second six months of 2018.The group disclosed that the total number of Sassa loans sold for the first six months of 2019 decreased by 94.6% to 8,655 compared to 160,910 for the corresponding period in 2018.

Under the circumstances, Finbond’s North American operations contributed more than 97% of the forecast headline earnings.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Huawei in early talks with US firms to license 5G platform - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The US, fearing Huawei equipment could be used to spy on customers, has led a campaign to convince allies to bar it from their 5G networks. Huawei has repeatedly denied the claim.
Source: SABC News Online - 🏆 32. / 51 Read more »

Business purpose is essential with the new call for sustainabilityThe days of a business only needing to maximise profits are over as consumers re-invent capitalism, writes Jill Bogie
Source: BDliveSA - 🏆 12. / 63 Read more »

Gauteng police foil business robbery, arrest two suspectsGauteng police foiled a business robbery in Germiston on Friday and arrested two suspects who have been linked to other business robbery cases in the area.
Source: TimesLIVE - 🏆 28. / 59 Read more »