RCI BANK UK LIMITED

Company number

11429127

Status

Active

Incorporation

2018-06-22

Last accounts made up

2024-12-31

Account category

GROUP

Primary SIC

64191

Hubs

UK Fintech

Accounting basis

IFRS

Reporting scope

Consolidated (group)

Auditor

Forvis Mazars LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“In preparing these consolidated financial statements, the Directors have satisfied themselves that it is reasonable to adopt the going concern basis of accounting. Projections of future financial performance for the Group and Company have been prepared, including stress tests of their capital and liquidity positions. The stress tests have considered a period of at least 12 months from the signing of these financial statements and indicate that RCI Bank UK Limited (the 'Company') and the Group have adequate headroom to meet their capital requirements and financial covenants. These scenarios also considered the ongoing investigation by the FCA on Motor Finance Commissions, recent court judgements, and their potential financial impact. The Directors have considered the financial position of the parent and have noted the interim receivable from the parent company and the support provided by the ultimate holding company, RCI Banque SA. The Directors have reviewed the Company's activity and the proprietary nature of its business when considering whether this support would be provided. After making the necessary enquiries and considering the associated mitigating actions in severe but plausible scenarios, the Directors have a reasonable expectation that the Group and Company's financial statements have been prepared on a going concern basis. Consequently, the Group and Company's financial statements have been prepared on a going concern basis.”

Subsidiaries

• RCI Financial Services Limited · 100% held
• Mobilize Lease & Co UK Limited · 63% held

Significant events

• “Brian Williams, CEO was appointed to the business on 13 January 2025.”
• “There were various developments linked to the Motor Finance Commission topic, including confirmation of the hearing dates at the Supreme Court in April 2025 and further statements by the FCA, the latest on 11 March 2025, clarifying some of the next steps in their investigation.”

Auditor / going-concern / subsidiary information is extracted from the PDF version of the latest annual accounts and is not tagged in iXBRL. About these numbers