Propell Holdings Ltd. (AU:PHL) has released an update.
Propell Holdings Ltd., a finance platform catering to small and medium enterprises, reported a robust financial performance for the quarter ending September 2024, achieving its first net cash inflow from operations since going public in 2021. The company introduced a new online broker tool that enhances credit decision-making, contributing to a 43% increase in customer receipts and a 42% reduction in operating costs. Despite a stable loan book size, Propell’s improved credit assessment has kept arrears below industry standards, reflecting its strong risk management in a changing economic environment.
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