Amigo - comment

With the approval of the Scheme of Arrangement in May the publication of the Amigo FYE March 22 results was of limited importance. The prime focus is FCA approval for Amigo 2.0 launching by 26 February 23(capped at £35m), to be expanded via a minimum 315m equity raise by 26 May 23. The old book is now £132m and as it runs off, the lower quality loans are left. Delinquent loans rose from 19.4% to 25.6%. This will not impact the relaunch given the modest beginning loans book sought by Amigo 2.0.