CA - goeasy's Non-Prime Lending Still Lucrative
2024-05-22 17:11:41 ET
Summary
- Goeasy is a leading non-prime lender in Canada, providing loans to Canadians who are unable to access traditional banks or credit unions.
- The company's risk profile has improved by offering more secured loans, which now account for 42% of its loan portfolio.
- Despite government regulations lowering interest rates, goeasy's margins continue to increase, and its stock is trading at a reasonable valuation.
Goeasy ( EHMEF ) ( GSY:CA ) is Canada’s leading non-prime lender providing secured and unsecured loans as well as point-of-sale financing.
The company was founded in 1990 as RTO Enterprises Inc. It went public in July 1993 through a reverse merger with Aumo Explorations Inc. On July 30, 2002, its shares were consolidated one-for-ten....
goeasy's Non-Prime Lending Still Lucrative