Vanquis Banking Group (formerly: Provident Financial Plc) Logo

Vanquis Banking Group (formerly: Provident Financial Plc)

ISIN: GB00B1Z4ST84 | Ticker: VANQ | LEI: 213800U93SZC44VXN635
Sector: FinancialsSub-Industry: Diversified Banks
Country: United Kingdom

About Vanquis Banking Group (formerly: Provident Financial Plc)

Company Description

Vanquis Banking Group is a leading specialist provider of credit cards and other financial products, primarily focused on serving customers with limited or no credit history. The company operates in the United Kingdom and aims to offer accessible and responsible credit solutions to individuals who may have been overlooked by traditional lenders.

Vanquis Banking Group's main brand, Vanquis Bank, offers credit cards designed to help individuals build or rebuild their credit profiles. These credit cards often have lower credit limits and higher interest rates compared to mainstream offerings but provide an opportunity for customers to establish a positive credit history and improve their financial standing.

Vanquis Bank takes a responsible lending approach by carefully assessing each customer's financial circumstances and ability to repay. The company strives to offer credit cards that are manageable and tailored to the specific needs of its customers.

Year founded

1880

Served area

United Kingdom

Headcount

2,005

Headquarters

No. 1 Godwin Street, BD1 2SU Bradford – United Kingdom

Financial statements

Download as Excel
Line item in (gbp) 01.01.2021 01.01.2022 01.01.2023
Assets N/A 2,725,300,000.00 2,655,800,000.00
Property Plant And Equipment N/A 8,400,000.00 8,300,000.00
Goodwill N/A 71,200,000.00 71,200,000.00
Intangible Assets Other Than Goodwill N/A 52,300,000.00 63,300,000.00
Investments In Subsidiaries N/A 0.00 0.00
Deferred Tax Assets N/A 6,900,000.00 14,500,000.00
Cash and cash equivalents N/A 717,700,000.00 464,900,000.00
Equity And Liabilities N/A 2,725,300,000.00 2,655,800,000.00
Equity 647,700,000.00 631,200,000.00 607,200,000.00
Issued Capital N/A 52,600,000.00 52,600,000.00
Retained Earnings N/A 17,300,000.00 -9,500,000.00
Share Premium N/A 273,300,000.00 273,500,000.00
Other Reserves N/A 9,800,000.00 12,400,000.00
Merger Reserve N/A 278,200,000.00 278,200,000.00
Liabilities N/A 2,094,100,000.00 2,048,600,000.00
Deferred Tax Liabilities N/A 0.00 0.00
Line item in (gbp) 01.01.2021/
01.01.2022
01.01.2022/
01.01.2023
Revenue 478,700,000.00 480,700,000.00
Revenue From Interest 473,900,000.00 486,900,000.00
Other Income 400,000.00 8,400,000.00
Amortisation Expense 7,500,000.00 7,500,000.00
Impairment Loss Reversal Of Impairment Loss Recognised In Profit Or Loss 50,400,000.00 66,100,000.00
Impairment Loss Reversal Of Impairment Loss Recognised In Profit Or Loss 50,400,000.00 66,100,000.00
Profit Loss Before Tax 142,200,000.00 110,100,000.00
Income Tax Expense Continuing Operations 7,600,000.00 27,800,000.00
Profit Loss From Continuing Operations 134,600,000.00 82,300,000.00
Profit Loss From Discontinued Operations -166,700,000.00 -4,900,000.00
Profit (loss) -32,100,000.00 77,400,000.00
Profit Loss Attributable To Owners Of Parent -32,100,000.00 77,400,000.00
Line item in (gbp) 01.01.2022 01.01.2023
Profit (loss) -32,100,000.00 77,400,000.00
Cash Flows From Used In Operations 240,500,000.00 -144,300,000.00
Income Taxes Paid Refund Classified As Operating Activities 6,100,000.00 13,400,000.00
Cash Flows From Used In Operating Activities 163,100,000.00 -204,900,000.00
Proceeds From Sales Of Property Plant And Equipment Classified As Investing Activities 3,800,000.00 0.00
Purchase Of Property Plant And Equipment Classified As Investing Activities 1,300,000.00 3,600,000.00
Purchase Of Intangible Assets Classified As Investing Activities 24,800,000.00 29,200,000.00
Dividends Received Classified As Investing Activities 0.00 0.00
Cash Flows From Used In Investing Activities -22,300,000.00 -32,800,000.00
Proceeds From Issuing Shares 100,000.00 200,000.00
Payments To Acquire Or Redeem Entitys Shares 0.00 700,000.00
Payments Of Lease Liabilities Classified As Financing Activities 9,600,000.00 10,800,000.00
Dividends Paid Classified As Financing Activities 0.00 42,800,000.00
Cash Flows From Used In Financing Activities -345,000,000.00 -12,500,000.00
Increase (decrease) in cash and cash equivalents after effect of exchange rate changes -204,200,000.00 -250,200,000.00
Cash and cash equivalents 717,700,000.00 464,900,000.00

Please note that some sums might not add up.

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Short Interest


Current short interest

Position Holder Short Interest in Percent Date
WorldQuant LLC 0.50% 03.10.23
Total 0.50%

Capital markets information

ISIN

GB00B1Z4ST84

LEI

213800U93SZC44VXN635

Sector

Financials

Industry Group

Banks

Industry

Banks

Sub-Industry

Diversified Banks

Listed Stock Exchange

London Stock Exchange

Stock Index

FTSE 250

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