Vanquis Banking Group Plc · LSE:VANQ
Vanquis Banking — H1 2026 Earnings Presentation
24 slides from Vanquis Banking's earnings presentation, Aug 4, 2026
Slide 1: 2026 Half Year Results
1 2026 HALF YEAR RESULTS Investor Meet Company Presentation 4 AUGUST 2026 3PM
Slide 2: Agenda
Agenda 1H26 Performance Summary and Ian McLaughlin Outlook Financial Guidance Dave Watts Conclusion Ian McLaughlin Q&A Ian & Dave 2
Slide 3: 1H26 Performance Summary and Outlook
1H26 Performance Summary and Outlook Ian McLaughlin Chief Executive Officer
Slide 4: Profitable growth continued in 1H26
Profitable growth continued in 1H26 HoH % YoY % 1. Profit before tax up 44% YoY at £8.9m, above FY25 1H26 Change Change profit. Gross customer interest- £3,054m 8% 24% earning balances1 2. 24% balance growth YoY, with 8% income growth. Net interest margin 15.0% (1.2)% (2.4)% (NIM)2 3. NIM and RAM re
Slide 5: Continued operational delivery against our three priorities
Continued operational delivery against our three priorities Building strong foundations to deliver attractive shareholder returns in the medium term Serve More Serve Responsibly Scale Profitably • Grew Credit Card customers and • UK Customer Satisfaction Index Successfully migrated drove engagement
Slide 6: Impacts from increased macroeconomic uncertainty emerging in 2Q26
Impacts from increased macroeconomic uncertainty emerging in 2Q26 Two main headwinds: 1.1 Lower utilisation from existing Credit Card customers than previously planned for 2. 2 Increased IFRS9 macroeconomic impairment provision for higher unemployment forecast Gross customer interest earning balance
Slide 7: Improving Credit Card profitability from recent new customer growth
Improving Credit Card profitability from recent new customer growth New customer growth since 2025 will deliver greater contribution to profits from 2027 Cumulative PBT of a typical customer (£) • Profitability will increase in 2027 Credit Builder card Balance Transfer (BT) card • Balances reduced b
Slide 8: Vehicle Finance growth to resume from 2027
Vehicle Finance growth to resume from 2027 Improved profitability from 2027 post launch of the new onboarding and servicing platform, with new customers becoming profitable within the first year Cumulative PBT of a typical customer (£) New customers become profitable towards the end of year 1, with
Slide 9: Strong 2CM growth continues, though competitor activity increasing
Strong 2CM growth continues, though competitor activity increasing Growth via forward flow partners to continue at a similar rate, driving increased profitability despite competitive pressures, with new customers profitable from month one Cumulative PBT of a typical customer (£) New customers become
Slide 10: Continuing to build a higher quality, more profitable business
Continuing to build a higher quality, more profitable business The growth opportunity within the underserved addressable market underpins our confidence in the strategy Confidence in the outlook supported by: 1. Gateway technology transformation build remains on track for completion in 2026. 2. Grea
Slide 11: Financial Guidance
Financial Guidance Dave Watts Chief Financial Officer
Slide 12: Updated financial guidance for 2026 and 2027
Updated financial guidance for 2026 and 2027 Guidance assumes impact on consumer confidence from uncertain macroeconomic environment continues; balance growth expected to be driven by increased new customer acquisition; combination moderates short term returns 1H26 FY26 FY27 Actuals Guidance Guidanc
Slide 13: Balances, margins and cost: income guidance
Balances, margins and cost: income guidance Balance growth guidance remains unchanged; as expected, mix of growth in 2CM and Credit Cards driving lower margins. NIM should stabilise post 2027, as Credit Card growth matures Gross customer interest earning balances (£m)1 NIM trend (%)2 c.15.5% c.14.5%
Slide 14: Statutory ROTE guidance (illustrative walk)
Statutory ROTE guidance (illustrative walk) ROTE impacted by reduced income from lower than expected Credit Card utilisation by existing customers and increased IFRS9 macroeconomic impairment provision Statutory ROTE outlook FY25-27 (%)5 Increased income reflects Lower income due to seasoning of rec
Slide 15: Basel 3.1 and SDDT regime capital requirements from 1JAN27
Basel 3.1 and SDDT regime capital requirements from 1JAN27 The Group expects to have additional surplus capital to support balance growth Increase in proforma RWAs from Basel 3.1 (£m/%) CET1 ratio requirements* and surplus CET1 capital to guidance (%) 15% 15.6 1.1 2,510 >14.5% 13.5 3.2 1.5 2,181 311
Slide 16: Conclusion
QM vandquis Conclusion Tan McLaughlin
Slide 17: Progress continues despite macroeconomic headwinds
Progress continues despite macroeconomic headwinds Driving the right actions to grow and deliver long term, sustainable profitability 1. Improved PBT to £8.9m, a higher PBT than FY25, despite an £8.5m increase in the IFRS9 macroeconomic provision. 2. Grew balances by 8% in 1H26, despite existing Cre
Slide 18: Q&A
QM vandquis Q&A
Slide 19: Strategy remains focused on creating long term shareholder value
Strategy remains focused on creating long term shareholder value The opportunity to “Serve More”, “Serve Responsibly” and “Scale Profitably” in the underserved UK market remains significant What sets us apart A large and underserved target addressable market • Over half of UK adults face barriers to
Slide 20: Appendix
QM vandquis Appendix
Slide 21: Footnotes
Footnotes Gross customer interest-earning balances excludes post charge off assets and deferred acquisition costs, which 1 are included in gross receivables. Net interest margin is calculated as interest income less interest expense for the period as a percentage of 2 average gross customer interest
Slide 22: Disclaimers
Disclaimers Important notice The information in this presentation may include forward-looking statements. Forward looking statements, by their nature involve risk and uncertainty as they relate to future events and circumstances. Forward looking statements can be identified from the fact that they d
Slide 23: Investor Relations contact
Investor Relations contact James Cranstoun Phone: +44 7766 937 406 Email: james.cranstoun@vanquis.com Website: www.vanquis.com
Slide 24: Vanquis
VY vandquis The bank that’s got your back
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