Latest news with #lending
Yahoo
2 hours ago
- Business
- Yahoo
OFA Group signs LOI to acquire controlling stake in Aspire Homes, RateDNA
OFA Group (OFAL) announced it has signed a Letter of Intent, LOI, to acquire a 60% controlling interest in Aspire Homes Realty and its affiliated lending platform, RateDNA. Aspire Homes offers brokerage services enhanced by investment-focused agent training and in-house staging, design, and construction. RateDNA complements this with mortgage products tailored to the investor market, including DSCR and non-QM loans, supported by proprietary tools such as the SFR Analytics platform. Thomas Gaffney OFA Group COO commented, 'We believe this proposed transaction represents a compelling opportunity to expand OFA's presence in two resilient, cash-generating verticals, real estate services and specialty lending. The team we expect to integrate brings deep transactional expertise, dual-licensing capabilities, and a performance-driven culture. We see meaningful potential to leverage this operational talent to accelerate revenue, enhance cross-platform synergies, and advance long-term shareholder value creation.' Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on OFAL: Disclaimer & DisclosureReport an Issue OFA Group announces AI platform development, strategic expansion Opening Day: Chime jumps on first trading day OFA Group Completes Over-Allotment Option Post-IPO Ofa Group trading resumes Ofa Group trading halted, volatility trading pause Erreur lors de la récupération des données Connectez-vous pour accéder à votre portefeuille Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données
Yahoo
a day ago
- Business
- Yahoo
Time Finance reports £217m gross lending-book for FY24/25
AIM-listed specialist finance provider Time Finance has reported a record gross lending book of £217m for the financial year ended 31 May 2025 (FY24/25), marking its 16th consecutive quarter of growth. The company said its continued focus on secured, own-book lending to UK businesses helped it register an 8% increase in lending volumes, underlining the success of its shift towards invoice finance and the hard element of asset finance. These areas accounted for more than 90% of the new lending volume originated in the financial year and now constitute 83% of the total lending book. Revenue for the FY24/25 increased by 11% to £37m while profit before tax saw a substantial rise of 34% to £7.9m. The profit before tax (PBT) margin also improved by 300 basis points to 21%. The company's net tangible assets grew by 14% to £44.1m. Deferred income, which provides visibility of future earnings, rose by 5% to £26.7m. Importantly, the company maintained its lending discipline, with net arrears and bad debt write-offs remaining unchanged at 5% and 1% of the gross lending book, respectively. Time Finance also secured extended and enhanced funding facilities, providing headroom in excess of £90m to fuel future growth. Time Finance CEO Ed Rimmer expressed satisfaction with the company's performance, stating: "31 May 2025 saw the end of the four-year strategy that we commenced in June of 2021. We can look back with great satisfaction on a period of strong delivery. "The business ends the year having enjoyed record revenues, improved margins and with an ever-growing lending book as UK SMEs take advantage of our multi-product offering. This has been achieved without the lowering of our credit quality, as demonstrated by the consistent and stable nature of both our arrears and our net write-offs. Looking forward, Rimmer expressed confidence in the company's new three-year growth plan through to May 2028 and its potential to continue building long-term value for shareholders. "Time Finance reports £217m gross lending-book for FY24/25" was originally created and published by Leasing Life, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
Bloomberg
2 days ago
- Business
- Bloomberg
Interested In Bitcoin Backed Lending: Maple Finance CEO
Maple Finance CEO and Co-Founder Sid Powell discusses tokenization and explains why he's interested in Bitcoin backed lending. He speaks with Sonali Basak and Tim Stenovec on 'Bloomberg Crypto.' (Source: Bloomberg)
Yahoo
2 days ago
- Business
- Yahoo
Upstart Holdings (UPST) Jumps 9.78% on 'Overweight' Rating
We recently published . Upstart Holdings, Inc. (NASDAQ:UPST) is one of the stocks that soared higher on Tuesday. Upstart Holdings grew for a second day on Tuesday, jumping 9.78 percent to close at $64.85 apiece following an analyst's bullish rating on its stock. In a market note, Piper Sandler gave Upstart Holdings, Inc. (NASDAQ:UPST) an 'overweight' rating and a price target of $75, marking an upside of 15.65 percent from its latest closing price. The coverage was based on growth optimism for Upstart Holdings, Inc.'s (NASDAQ:UPST) near-term earnings, supported by the improvement of its artificial intelligence model, which enables more accurately priced loans. A close-up of a businesswoman using a laptop, being illuminated by the AI-enabled cloud interface sponsored by the company. Additionally, Piper Sandler was optimistic about its long-term prospects, saying that traditional lending practices 'are primed for technological disruption,' and that Upstart Holdings, Inc. (NASDAQ:UPST) was positioned well to penetrate a large total addressable market. Upstart Holdings, Inc. (NASDAQ:UPST) is an AI-powered lending marketplace for personal loans, automotive retail and refinance loans, home equity lines of credit, and small-dollar 'relief' loans. It connects millions of consumers to more than 100 banks and credit unions that leverage its AI models and cloud applications. While we acknowledge the potential of UPST as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
The Print
2 days ago
- Business
- The Print
Gold stays flat at Rs 98,600/10 g
Silver prices also traded steady at Rs 1,03,100 per kilogram (inclusive of all taxes) on Thursday. The precious metal of 99.5 per cent purity also remained flat at Rs 98,050 per 10 grams (inclusive of all taxes). New Delhi, Jun 26 (PTI) Gold prices stayed flat at Rs 98,600 per 10 grams in the national capital on Thursday, according to the All India Sarafa Association. On the global front, spot gold went up marginally to USD 3,334.41 per ounce. 'Gold saw a modest gain on Thursday, buoyed by bargain buyers and a weaker US dollar. The US dollar index fell below 97.0, marking its lowest level since March 2022. 'This decline was triggered by disappointing US economic data, concerns about the country and economic health, and rising speculation about potential rate cuts. Additionally, growing fiscal concerns also weighed on the US dollar while lending support for precious metals,' Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said. Meanwhile, gold traders seem to have digested news regarding a multi-stage ceasefire between Iran and Israel. Attention now shifts to trade deals related developments, and upcoming US economic data, which are expected to influence bullion and US dollar trends in the upcoming days, Gandhi said. Market participants are closely monitoring US macroeconomic data, including the US GDP, durable goods orders, and initial jobless claims, to gain further insights into the health of the American economy, he added. PTI HG HVA This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
