LONDON (ShareCast) - (Sharecast News) - Property-focussed commercial lender Vector Capital updated the market on its aggregate loan book on Tuesday, which stood at £53.4m on 31 December.
The AIM-traded firm said that made for a 15.4% increase compared to the end of 2021, when it totalled £46.3m.

It put the increase down to "continuing strong progress", despite "well-publicised" challenging market conditions, adding that it was built on the increase in the debt finance facilities provided during the year by its wholesale lenders.

The number of loans also increased to 107 during the year, from 79, representing a net increase of 35.4%.

In line with its previously-stated future strategy, its average loan value reduced to £499,000 as at 31 December, from £586,000.

"We are delighted to provide an update on the 15.4% annual increase in our aggregate loan book value at 31 December, consistent with the continuing demand for loan finance generated from within our chosen market," said chief executive officer Agam Jain.

"This increase highlights the resilience of our business model as we continue to grow the business despite the uncertain conditions.

"We look forward to updating the market with the group's full results in due course."

At 1510 GMT, shares in Vector Capital were up 1.45% at 42.1p.

Reporting by Josh White for Sharecast.com.

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