Amigo Share Discussion Threads

[chinese investor] 22/10/2020 08:53

Current vacancies are listed below :-

Root Cause Analyst
Quality Assurance Assessor
Customer Relations Team Manager - Case Handling

[soup de jour] 22/10/2020 08:47

If amigo have 1000 claims as indicated by the FCA even if they paid them all back on
the basis of refund at the maximum £10,000 per individual loan you would still
only repay £10,000,000 not the £116,000,000 provision taken.

Ummmmmmm ........

[kirk 6] 22/10/2020 08:44

Anyone seen the new jobs advertised !?

[astute person] 22/10/2020 08:43

To be clear - my general point was that I think the board have been quite prudent with the complaints provision based on the figures I can see.

I think that’s good news for us investors.

[astute person] 22/10/2020 08:42

....or circa 36p per share cash value.

[astute person] 22/10/2020 08:39

Q1 results.

"The complaints provision includes a combination of estimated redress for known cases and an allowance for future claims.

£8.5m of the provision was utilised in the quarter, representing redress, of which around half was settled with cash and the remaining half in balance adjustments.

An incremental cost of £6.8m has been recognised in the income statement.

The remaining provision on the balance sheet as at 30 June 2020 is £116.4m."

[pictureframe] 22/10/2020 08:36

We should be getting an update on this by month end

[marmar80] 22/10/2020 08:27

Thst would mean they have 10x more put on a side to deal with it.

[samsung2020] 22/10/2020 08:18

I assume the report is accurate, came across it last night when digging into the firm online

[brocksford] 22/10/2020 08:13

So 87% of complaints received by Amigo were upheld so 1010 complaints. Even if recourse was £10k per complaint (which it wouldn’t have been) that is £10m over 6 months and we have a provision of over £100m.

[samsung2020] 22/10/2020 08:09

And me... Pretty shocked not to see my name listed

[cyberbub] 22/10/2020 08:09

Sigh, another sociopath for the filter button.