Business
Final Results
Final Results.
About this update from Sancus Lending Group Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 6791G\n Sancus Lending Group Limited\n 31 March 2022\n \n \n \n \n Sancus Lending Group Limited \n \n \n (formerly GLI Finance Limited)\n \n \n \n \n \n Final Results for the Year Ended 31 December 2021\n \n \n \n \n \n HIGHLIGHTS\n \n \n \n \n \n Rory Mepham, Chief Executive Officer of Sancus Lending Group Limited, commented:\n \n \n \n \n \n \n \"\n \n Since my appointment as CEO in June 2021, I have prioritised the turnaround of the Group's financial performance. 2021 was the start of a transitional period for the Company. We have rebranded, strengthened the management team, invested in technology and expanded our presence in the UK and Ireland. We have also undertaken a thorough review of the loan book and, where required, provisioned accordingly.\n \n \n \n \n \n Our plan is to return the Group to profitability by growing the Groups loans under management while ensuring that our credit and other processes are best in class. We will also broaden our funder base and improve funding terms. The business will continue to focus on expanding the Group's presence in the UK and Ireland together with rebuilding its loan book in the Offshore markets of Jersey, Guernsey and Gibraltar.\n \n \n \n \n \n We started 2022 with a clear strategy to return the business to profitability, and a management team committed to achieving that.\"\n \n \n \n \n \n Strategic and Operational Highlights\n \n \n \n \n \n · \n Change of name to Sancus Lending Group Limited, announced on 11 May 2021, reflecting the Group's continued focus on property lending in residential development and bridge financing;\n \n \n · \n Appointment of Rory Mepham as CEO and Steve Smith as Chairman;\n \n \n · \n Significant investment in the sales and credit teams at the end of 2021 and into 2022, to support and drive growth over the coming years;\n \n \n · \n Focus on the maintenance of robust institutional grade credit processes, smooth loan execution, active loan management, data integrity and a proactive approach to loans that become stressed or distressed;\n \n \n · \n Geographic focus remains unchanged, with the UK and Ireland the key areas of growth for the business whilst the Offshore markets currently remain the Group's largest market. Core Sancus revenue growth was 6% in FY21, with UK reve...