Vanquis Banking Group plc (VANQ) Q2 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.807 -- 00:00:04.695 Good morning, everyone. I'm Ian McLaughlin, Chief Executive of Vanquish Banking Group. 00:00:04.695 -- 00:00:09.506 Thanks for joining us for our 2025 Half Year Results webcast and conference call. 00:00:09.506 -- 00:00:12.773 As usual, I'm pleased to be joined by our Chief Financial Officer, Dave Watts. 00:00:12.773 -- 00:00:14.497 Dave, good morning and welcome. 00:00:14.497 -- 00:00:17.075 Thanks, Ian, and good morning, everyone. 00:00:17.075 -- 00:00:20.718 So as you can see on slide two, I'm going to start with an overview of our performance 00:00:20.718 -- 00:00:24.762 for the first half of the year. Dave will then take you through the numbers in more detail. 00:00:24.762 -- 00:00:27.584 And after that, we'll be happy to take your questions. 00:00:27.584 -- 00:00:30.687 So if I can take us straight to slide four. 00:00:30.687 -- 00:00:35.011 Let me start by briefly looking back. And this is hopefully the last time I will mention 00:00:35.011 -- 00:00:36.492 2024. 00:00:36.492 -- 00:00:39.115 But you know, for us, it was a challenging year. 00:00:39.115 -- 00:00:44.219 One where we addressed the issues of the past, reset the business, and laid the foundations 00:00:44.219 -- 00:00:47.062 for sustainable, profitable growth in the future. 00:00:47.062 -- 00:00:48.644 We 00:00:48.644 -- 00:00:53.030 also had external factors that we had to deal with in the form of CMC complaints and 00:00:53.030 -- 00:00:57.996 vehicle finance commissions and I'll update you on both of those in a moment. 00:00:57.996 -- 00:01:03.143 Importantly that reset is now behind us and the progress we're making shows 00:01:03.143 -- 00:01:08.330 that our plan is working. Profitability in both quarter one and quarter two obviously 00:01:08.330 -- 00:01:11.8...