Solution Financial Inc. (TSE:SFI) has released an update.
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Solution Financial Inc. has reported a significant turnaround with a net income of $21,171 for Q1 2024, compared to a net loss last year, despite a slight revenue decline to $3.1 million and a 4.4% reduction in their leasing portfolio. The company is adapting to market changes with new auto and luxury corporate leasing programs, targeting a broader customer base affected by rising interest rates and stringent lending criteria. These initiatives are expected to drive growth and provide competitive leasing options in the Canadian auto market.
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