Business
Interim results for six months ended 30 June 2022
Interim results for six months ended 30 June 2022.
About this update from Vanquis Banking Group Plc
[{"type":"text","content":"\n \n \n \n \n \n \n Provident Financial plc\n \n \n \n \n Interim results for the six months ended 30 June, 2022\n \n \n \n \n \n \n \n \n Provident Financial plc ('PFG' or 'the Group'), a leading specialist banking group focused on underserved markets, today publishes its interim results for the six months ended 30 June 2022, unless otherwise stated.\n \n \n \n \n \n \n Malcolm Le May, Chief Executive Officer, commented:\n \n \n \n \n \n \n \n \n \"I am delighted with the Group's first half performance. We have delivered growth and returns in line with market expectations and, reflecting the Board's confidence and our robust financial position, we are recommending an interim dividend of 5.0p per share.\n \n \n \n \n \n We have successfully repositioned PFG as a specialist banking group focused on the mid-cost and near-prime sectors, increasing the size of our addressable market to some 14m people in the UK. We are investing in our IT infrastructure to deliver future efficiency savings and broadening our service proposition with Vanquis Personal Loans. CCD is in the final stages of being wound down and the PRA have confirmed that they will review the Group's capital requirements during the second half of the year. The FCA has also decided not to proceed with their investigation into historic lending at CCD. We are all acutely aware of the potential challenges that the macroeconomic environment might present. However, we are confident that our increased focus on lower risk customer segments together with our capital strength position us well to withstand the challenges ahead, support our customers and deliver sustainable growth and returns to our shareholders.\"\n \n \n \n \n \n \n Key financial results\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Six months ended 30 June\n \n \n \n \n \n \n \n \n \n \n \n \n \n 2022\n \n \n \n \n 2021\n \n \n \n \n \n \n \n \n \n \n Continuing operations:\n \n \n \n \n \n £m\n \n \n \n \n £m\n \n \n \n \n \n \n \n \n \n Adjusted profit before tax:\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n - Credit cards\n \n \n \n \n 75.8\n \n \n \n \n 57.0\n \n \n \n \n \n \n \n \n \n - Vehicle finance\n \n \n \n \n 20.2\n \n \n \n \n 15.5\n \n \n \n \n \n \n \n \n \n - Personal loans\n \n \n \n \n (10.7)\...