Vanquis Banking Group plc (VANQ) Q2 2026 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:04.695 Good morning, everyone. Thanks for joining us for 2026 half year results webcast and 00:00:04.695 -- 00:00:08.839 conference call. I'm Ian McLaughlin, the Chief Executive Officer of Bankless and I'm 00:00:08.839 -- 00:00:11.841 joined as usual by our Chief Financial Officer Dave Watts. 00:00:11.841 -- 00:00:15.244 Dave, good morning and welcome. Good morning, Ian. 00:00:15.244 -- 00:00:19.027 I'll start with an overview of our performance and the updates to our outlook that we've 00:00:19.027 -- 00:00:23.451 announced this morning. Dave will then take you through some more detail on our numbers 00:00:23.451 -- 00:00:27.134 and guidance and I'll come back to summarise and then of course, we'll be happy to take 00:00:27.134 -- 00:00:28.835 your questions. 00:00:28.835 -- 00:00:34.397 So if I can take you straight to slide four, the first half of 2026 represented another 00:00:34.397 -- 00:00:38.279 period of significant progress for Bankless. 00:00:38.279 -- 00:00:43.401 We continued to lay the foundations for sustainable, profitable growth 00:00:43.401 -- 00:00:46.642 and attractive returns over the medium term. 00:00:46.642 -- 00:00:49.143 Let me draw out a couple of key points here. 00:00:49.143 -- 00:00:54.392 Firstly, we delivered a further two quarters of profitable growth. 00:00:54.392 -- 00:00:58.475 Statutory profit before tax increased by 44% 00:00:58.475 -- 00:01:03.599 year-on-year to £8.9 million, so exceeding the profit that we delivered for the whole 00:01:03.599 -- 00:01:05.659 of 2025. 00:01:06.061 -- 00:01:11.085 Secondly, gross customer interest earning balances increased by 24% 00:01:11.085 -- 00:01:15.929 year-on-year to more than £3 billion, principally reflecting growth in second-charge 00:01:15.929 -- 00:01:21...