February 13, 2018 / 12:13 PM / 3 months ago

Online lender OnDeck Capital posts profit due to lower provisions

Feb 13 (Reuters) - Online lender OnDeck Capital Inc on Tuesday reported a fourth-quarter profit, compared with a year-ago loss, as it set aside lesser money for bad loans and costs fell.

Net income attributable to common shareholders was $5.1 million, or 7 cents per share, in the quarter ended Dec. 31, compared with a loss of $35.9 million, or 50 cents per share, a year earlier. (reut.rs/2BVGEHI)

Net revenue rose to $42.1 million from $16.3 million. (Reporting By Aparajita Saxena in Bengaluru; Editing by Savio D’Souza)

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