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Lender NSF signals need to raise capital as COVID-19 crisis hits lending

Feb 23 (Reuters) - Non-Standard Finance said on Tuesday it needs to raise new capital to stave off future covenant breaches and to address material uncertainties about its going concern status, as extended COVID-19 lockdowns pressure lending volumes.

The subprime lender said net loan book at 2020-end was down by a third compared to 2019.

Reporting by Muvija M in Bengaluru; Editing by Sriraj Kalluvila

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