June 25, 2020 / 6:35 AM / 21 days ago

UK lender NSF warns of going concern risks as coronavirus hits

June 25 (Reuters) - British lender Non-Standard Finance on Thursday raised doubts on its ability to continue as a going concern, with the coronavirus crisis halting lending and leading to a spike in expected credit losses.

“The last 18 months have been difficult and disappointing for Non-Standard Finance with the failure of our offer for Provident Financial,” Chief Executive Officer John van Kuffeler said. “The fall in sector values necessitating large write-downs in the values of our three principal subsidiaries and the COVID-19 pandemic which has paralysed the UK economy.”

Reporting by Muvija M in Bengaluru; Editing by Ramakrishnan M.

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