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Provident's home credit collections back to pre-COVID-19 levels, 2020 on track

Nov 4 (Reuters) - Doorstep lender Provident Financial Plc said on Wednesday collection performance in its home credit business has now aligned with pre-coronavirus levels, with the company on track to meet market expectations for the year.

The company, which was pushed to a first-half loss partly due to higher impairment, reported a Common Equity Tier 1 (CET1) ratio - a closely watched measure of balance sheet strength - of 36% as at September end. That was slightly higher than the 35.4% it posted in August. (Reporting by Muvija M in Bengaluru; Editing by Rashmi Aich)

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