Non-Standard Finance is cutting lending across its divisions in a bid to mitigate the effects of the coronavirus outbreak on its financial performance. The sub-prime lender said yesterday it is reducing lending volumes across all three of its divisions to shift resources to managing collections. The group said it would continue to offer credit, subject to an assessment of affordability, where there is an urgent need and/or where knowledge of an existing customer "provides us with the requisite comfort that we are happy to lend". Non-Standard Finance is also putting in place arrangements to offer credit to eligible "key workers". It said its outlook will be heavily affected by the length of the pandemic.

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