UDC Finance posts record net profit
Thursday, December 8th 2016, 2:36PM
UDC Finance has posted a record net profit after tax of $58.5 million for the year to September 30, a 3% increase on the previous financial year.
A key contributor to the result was strong lending growth across a diverse range of industries, improved credit quality and a focus on containing costs. Improved lending quality and lower provisions were partly offset by a decline in net interest margin, resulting in revenue being down 1% on the previous year.
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