Repayments: Loan Book and Customers

repayments: The lender said it now expected no growth in its loan book as it adopted a more conservative view on lending, according to The Guardian. It also said it would be setting aside more cash as provisions to cover a rising number of customers falling behind on repayments. Amigo specialises in guarantor loans, which use friends and family to guarantee repayments on loans to people who might otherwise struggle to borrow. The FTSE 250 firm added that its new forecasts reflect the increased probability of a no-deal Brexit and the corresponding effect this is expected to have on the economy and on consumer sentiment . It said While past recessions have demonstrated the resilience of our business, we believe it is prudent to factor a deteriorating economic outlook into our impairments model. Amigo shares tumbled 51% to 72p in Thursday afternoon trading. We will continue to monitor the potential impact and will review our position again at the half year. (news.financializer.com). As reported in the news.