CCV.ASX: CCV Small Amount Credit Contract Exit Announcement

CCV Small Amount Credit Contract Exit Announcement

Stock	Cash Converters International (CCV.ASX)
Release Time	26 May 2025, 8:21 a.m.
Price Sensitive	Yes

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Cash Converters Exits Payday Lending Business

Key Points

Cash Converters to exit Small Amount Credit Contract (SACC) 'payday' lending business
Decision made to focus on core pawn-broking and retail operations
Exit to be completed by end of 2025 financial year

Full Summary

Cash Converters International Limited (ASX: CCV) has announced that it will be exiting its Small Amount Credit Contract (SACC) 'payday' lending business. The company has made this decision to focus on its core pawn-broking and retail operations. The exit from the SACC lending business will be completed by the end of the 2025 financial year. Cash Converters will work closely with its customers and regulators to ensure a smooth transition out of this business line. The company believes this strategic shift will allow it to better serve its customers and shareholders by concentrating on its strengths in pawn-broking and second-hand goods retail. Cash Converters remains committed to maintaining its strong market position and continuing to deliver value to its stakeholders.