Australia’s number one online lender to small business, Prospa Group Limited (ASX:PGL) updated on the Company’s response to COVID-19 and trading.
Solid performance in March quarter, with AUD 122.8 million of total loan originations and AUD 37.4 million of revenue, both in line with the anticipation of management.
Operating expenses have been reduced for Q4FY20 and are projected to be nearly 32% lower than for the prior quarter Q3FY20.
In response to COVID-19, PGL has offered more than 5k customers with relief packages, including short-term payment deferrals and reduced repayments.
Post announcement PGL quoted at AUD 1.305 up by 3.571% at AEST 12:04 PM.