Mike McTighe

Together loan book reaches £4.2bn

Together has revealed that it has increased its loan book to a new high of £4.2bn following the publication of its quarterly results for the period ending 31st December 2019.

The specialist lender’s loan book was up 28% compared with 31st December 2018 (£3.2bn) and up 7.2% compared with 30th September 2019 (£3.9bn).

Together achieved record average monthly loan originations of £205.8m in the quarter ended 31st December 2019, representing a rise of 19.8% compared with the £171.7m recorded in the same period in 2018, and up 16.8% on the £176.2m registered in the previous quarter.

The specialist lender has also appointed John Hooper to its personal finance board and Gerald Grimes as group CEO designate — effective from 6th April 2020. 

“Together continued to achieve strong growth in new lending during the quarter, with the loan book reaching a new high of £4.2bn, driving robust increases in underlying profitability and cash generation,” said Mike McTighe, group chairman at Together (pictured above).

“While lead indicators continue to be mixed, a recent pick up in business confidence following the UK general election result — and the passing of the EU Withdrawal Agreement Bill by parliament —has led some economists to highlight possible early signs of a recovery in the UK economy.

“…However, the continued spread of the coronavirus and ongoing tensions between the US and Iran have contributed to financial markets remaining volatile.

“Despite this macroeconomic uncertainty, we continue to see strong demand from our customers and believe the group remains well placed to deliver on its growth plans.”

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