RentCash plunges on loan provision doubts

RentCash shares dropped almost 30 per cent yesterday…//

The Toronto Star
November 18, 2005

RentCash plunges on loan provision doubts

RentCash shares dropped almost 30 per cent yesterday over worries about how much money the Edmonton quick cash company will have to cushion itself against bad loans. It recently estimated its loan loss provision for the period at 23 per cent of $7.8 million, versus $193,000 or 2 per cent of loans for the same quarter last year and $8.9 million or 32 per cent the previous quarter.

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Risks: Stock price plummets, Canada, 20051118 RentCash plunges