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Wonga posts profit loss as fewer lenders ask for loans

Wonga posts profit loss as fewer lenders ask for loans
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Wonga, the British payday loan firm, has reported a loss of around 55 million euros.

The short-term lender recorded a profit of the same amount in 2013 but last year was hit by a hefty drop in borrowing to UK customers.

The firm also sparked controversy last year after admitting to using letters from fake legal firms when chasing debts. It subsequently apologised and agreed to pay compensation of around 3.5 million euros.

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