Kuflink loan collections almost doubled in Q2
Kuflink almost doubled the volume of its loan collections during the second quarter of the year, the property lender has revealed.
Almost £16m was collected during the second quarter, up from just under £9m in the first three months of the year. Kuflink has predicted that loan collections will continue to rise, with £10.1m collected during the month of August alone.
By the end of the third quarter of the year, the platform expects loan collections to be in excess of £48m for the year to date.
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Hiran Patel, chief risk officer at Kuflink, said that the rise in collections is due to the implementation of a new loan book management system earlier this year.
“We are delighted with the success that we have seen through this new process so far,” Patel said.
“Prudent risk management is at the heart of what we do at Kuflink, and we are always looking ahead to identify any potential challenges that might affect our borrowers’ ability to repay their loans.
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“The recent rise in loan collections is a testament to this approach.
“We are proud to say that our investors have still not lost any money, and we expect the volume of loan collections to continue to rise towards the end of the year.”
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