Pioneer Credit Limited
(ASX:PNC) says it has signed a new contract with one of Australia’s leading banks.
The forward flow deal gives Pioneer a parcel of credit card debt and Pioneer is planning to launch its own credit card to customers early next year.
Pioneer also says it is on track to purchase a further $42 million worth of debt portfolios and hopes to realise an after tax profit of $8.8 million for the 2016 financial year.
Pioneer reported a net profit of $7.44 million for the 2016 financial year.
