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Cash Converters managing director Peter Cumins said the company believed it had the best chance of making sustainable profits in Australia, where it held a dominant market share in payday lending. "Our new strategy is to build on our clear brand and network strengths in Australia where we are the industry leader," he said. "If our industry is to be fully accepted by government and community as an integral part of the financial services sector, we need to ensure we continually deliver high-quality products and services while maintaining the highest compliance standards.
" He said recent government data showed the short-term lending market in Australia was growing and the "range of consumers accessing these products is broadening". Cash Converters managing director Peter Cumins remains focused on the network strengths in Australia.
Photo: Ross Swanborough. personal loan goldman sachs is driving demand for online and more sophisticated lending products," he said. The value of Cash Converters' online cash advance loans jumped 62 per cent in the six months to December to 8. 2 million.
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