Lender NSF signals need to raise capital as COVID-19 crisis hits lending

Non-Standard Finance said on Tuesday it needs to raise new capital to stave off future covenant breaches and to address material uncertainties about its going concern status, as extended COVID-19 lockdowns pressure lending volumes.

Feb 23 (Reuters) - Non-Standard Finance NSF.L said on Tuesday it needs to raise new capital to stave off future covenant breaches and to address material uncertainties about its going concern status, as extended COVID-19 lockdowns pressure lending volumes.

The subprime lender said net loan book at 2020-end was down by a third compared to 2019.

(Reporting by Muvija M in Bengaluru; Editing by Sriraj Kalluvila)

((Muvija.M@thomsonreuters.com; within UK: +44 20 7542 1810, outside UK: +91 80 61822698; Twitter: https://twitter.com/muvija_m;))

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