Wonga declares £37.3m loss

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Good news: Wonga declares £37.3m loss

The cap on interest rates and lower fees for pay day loans is finally having the desired effect. Revenues at Wonga have slumped by a third to a little over £210m, with losses rocketing to £37m.
Chairman Andy Haste admits the brand is now so toxic that it may ditch its name altogether in a bid to repair the company’s reputation.

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