Manx Financial Group (MFX) posted record PBT of £3m supported by record new lending of £183m in H123. Conister Bank experienced margin compression of 6% as rising interest rates were passed on to savers more quickly than borrowers. However, group net interest margin (NIM) rose 1.5 percentage points y-o-y to 8.2% as Payment Assist (PAL, currently 50.1% owned) grew rapidly. Altogether, EPS fell to 1.67p/share from 1.89p/share, and net attributable profit declined by 11% y-o-y to £1.9m. The outlook for volume growth remains positive. The anticipated approval of a UK banking licence before year-end will add further funding flexibility into FY24 and the company continues to look for synergistic acquisitions, with general insurance an area of interest.Den vollständigen Artikel lesen ...