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United Kingdom

Provident Financial PLC (PFG.L)

PFG.L on London Stock Exchange

540.00GBp
15 Nov 2018
Change (% chg)

-11.20 (-2.03%)
Prev Close
551.20
Open
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Volume
515,387
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804.86
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413.70

Latest Key Developments (Source: Significant Developments)

Provident Financial Says Its Home Credit, Satsuma Businesses Authorised By FCA
Friday, 9 Nov 2018 

Nov 9 (Reuters) - Provident Financial Plc ::PROVIDENT FINANCIAL CCD AUTHORISED BY THE FCA.FCA HAS INFORMED PROVIDENT FINANCIAL PLC TODAY THAT ITS HOME CREDIT AND SATSUMA BUSINESSES HAVE BEEN FULLY AUTHORISED.HOME CREDIT, SATSUMA AND REST OF GROUP WILL CONTINUE TO WORK IN PARTNERSHIP WITH FCA.  Full Article

Provident Financial appoints new CFO
Tuesday, 6 Nov 2018 

Nov 6 (Reuters) - Provident Financial PLC ::PROVIDENT FINANCIAL PLC ANNOUNCES APPOINTMENT OF SIMON THOMAS AS CHIEF FINANCE OFFICER.ANDREW FISHER, CURRENT FINANCE DIRECTOR WILL STEP DOWN FROM PROVIDENT FINANCIAL PLC BOARD WHEN SIMON TAKES UP HIS APPOINTMENT, BUT WILL REMAIN EMPLOYED BY COMPANY FOR THREE MONTHS TO PROVIDE AN ORDERLY HANDOVER..  Full Article

Provident Financial says Chris Sweeney, Managing Director, Vanquis Bank To Step Down
Thursday, 1 Nov 2018 

Nov 1 (Reuters) - Provident Financial PLC ::CHRIS SWEENEY, MANAGING DIRECTOR, VANQUIS BANK TO STEP DOWN.CHRIS WILL REMAIN EMPLOYED BY PROVIDENT FINANCIAL GROUP UNTIL END OF APRIL 2019.  Full Article

Provident Financial Says Managing Director Of Vanquis Bank To Step Down
Thursday, 1 Nov 2018 

Nov 1 (Reuters) - Provident Financial PLC ::MANAGING DIRECTOR OF VANQUIS BANK TO STEP DOWN.CHRIS WILL REMAIN EMPLOYED BY PROVIDENT FINANCIAL GROUP UNTIL END OF APRIL 2019.BOARD OF VANQUIS BANK ANNOUNCES THAT CHRIS SWEENEY, MANAGING DIRECTOR, VANQUIS BANK WILL FROM TODAY STEP DOWN FROM HIS ROLE.  Full Article

Provident Financial's Home Credit Collections Remain Around 10 Pct Lower In Q3
Friday, 19 Oct 2018 

Oct 19 (Reuters) - Provident Financial PLC ::PROVIDENT FIN.PLC. - TRADING STATEMENT.SAYS CONTINUED TO MAKE SOUND PROGRESS DURING Q3 ON DELIVERING ITS OPERATIONAL OBJECTIVES FOR 2018.SAYS CUSTOMER REFUND PROGRAMME IN VANQUIS BANK PROGRESSING WELL AND IS ON-TRACK TO BE SUBSTANTIALLY COMPLETED IN EARLY 2019.SAYS HOME CREDIT BUSINESS HAS SUBSTANTIALLY COMPLETED RECOVERY PLAN.SAYS "VANQUIS BANK HAS DELIVERED A GOOD PERFORMANCE IN Q3 OF YEAR".SAYS VANQUIS BANK NEW CUSTOMER BOOKINGS OF 103,000 IN Q3 WERE BROADLY IN LINE WITH LAST YEAR.SAYS FINANCIAL CONDUCT AUTHORITY (FCA) AUTHORISATION PROCESS IS EXPECTED TO BE CONCLUDED DURING Q4 IN HOME CREDIT BUSINESS.SAYS GROUP'S CAPITAL POSITION AND LIQUIDITY BOTH REMAIN STRONG.SAYS GROWTH AND OPERATING PERFORMANCE OF VANQUIS BANK AND MONEYBARN ARE BOTH GOOD AND IN LINE WITH MANAGEMENT'S PLANS IN QUARTER.SAYS HOME CREDIT BUSINESS HAS CONTINUED TO PRIORITISE COLLECTIONS DURING Q3.SAYS IN VANQUIS, ANNUALISED RISK-ADJUSTED MARGIN SHOWED MODEST REDUCTION IN Q3, TRACKING IN LINE WITH INTERNAL PLAN, FY GUIDANCE.SAYS IN Q3, SATSUMA HAS CONTINUED TO EXPERIENCE A GOOD FLOW OF VOLUMES AS A RESULT OF INVESTMENT MADE LAST YEAR.SAYS COLLECTIONS PERFORMANCE DURING Q3 IN HOME CREDIT REMAINED AROUND 10% LOWER THAN HISTORICAL PERFORMANCE.SAYS LOWER THAN EXPECTED COLLECTIONS FROM CUSTOMERS WHO WERE ACTIVE DURING MIGRATION TO NEW OPERATING MODEL DURING QUARTER.  Full Article

Provident Financial Says Launched And Priced 250 Mln Pounds 5 Year Fixed Rate Bonds
Wednesday, 23 May 2018 

May 23 (Reuters) - Provident Financial PLC ::LAUNCH AND PRICE OF £250 MILLION BOND ISSUE.ANNOUNCES THAT IT HAS LAUNCHED AND PRICED £250 MILLION 5 YEAR FIXED RATE BONDS.BONDS WILL CARRY A SEMI-ANNUAL COUPON OF 7% AND WILL BE ISSUED UNDER £2,000,000,000 EURO MEDIUM TERM NOTE PROGRAMME.INTENDS TO USE SOME OR ALL OF PROCEEDS TO FINANCE ITS TENDER OFFER FOR UP TO £250M OF EXISTING BONDS MATURING IN OCTOBER 2019.  Full Article

Provident Financial Announces Tender Offer To Holders Of Outstanding £250 Mln Bonds Due 2019
Tuesday, 22 May 2018 

May 22 (Reuters) - Provident Financial PLC ::PROVIDENT FINANCIAL PLC - ANNOUNCES A TENDER OFFER TO HOLDERS OF ITS OUTSTANDING £250 MILLION 8.00 PER CENT GUARANTEED BONDS DUE 2019.PROVIDENT FINANCIAL - WILL PAY FOR BONDS ACCEPTED BY IT FOR PURCHASE PURSUANT TO OFFER CASH PURCHASE PRICE EQUAL TO 108 PERCENT OF PRINCIPAL AMOUNT OF BONDS.  Full Article

Provident Financial Says Home Credit Business Delivered "Good Collections Performance" During Q1
Wednesday, 9 May 2018 

May 9 (Reuters) - Provident Financial PLC ::RECOVERY PLAN ON TRACK AND HOME CREDIT BUSINESS DELIVERED GOOD COLLECTIONS PERFORMANCE DURING CRITICAL Q1 TRADING PERIOD.EACH OF GROUP'S THREE BUSINESSES HAVE STARTED 2018 WITH POSITIVE MOMENTUM.VANQUIS BANK HAS DELIVERED PROFIT AHEAD OF PLAN IN Q1 AS A RESULT OF ROBUST MARGINS AND OPERATIONAL LEVERAGE.MONEYBARN DELIVERED STRONG NEW BUSINESS VOLUMES AND LEAD INDICATORS SHOW DELINQUENCY TRENDS ARE NOW IMPROVING.PROCESS TO RECRUIT NEW CHAIRMAN AND ADDITIONAL NON-EXECUTIVE DIRECTORS IS WELL UNDERWAY.FOLLOWING RIGHTS ISSUE GROUP'S CAPITAL POSITION AND LIQUIDITY ARE BOTH STRONG.VANQUIS BANK CUSTOMER NUMBERS ENDED Q1 AT 1,723,000, 7.8% HIGHER THAN LAST YEAR.HOME CREDIT ACTIVE CUSTOMER NUMBERS ENDED Q1 AT 491,000, DOWN FROM 527,000 AT DECEMBER 2017, REFLECTING TYPICAL SEASONAL REDUCTION.MANAGEMENT HEAVILY FOCUSED ON CONTINUING CONSTRUCTIVE RELATIONSHIP WITH REGULATOR, INCLUDING IN RESPECT OF FCA'S WIDER REVIEW OF HOME CREDIT MARKET.HOME CREDIT BUSINESS EXPECTED TO RETURN TO BREAKEVEN ON ANNUALISED RUN RATE BASIS DURING H2 2018 AND MOVE INTO PROFITABILITY IN 2019.SATSUMA UNDERWRITING STANDARDS HAVE BEEN FURTHER TIGHTENED DURING Q1.FOCUS IN 2018 FOR HOME CREDIT WILL REMAIN ON COMPLETION OF RECOVERY PLAN AND SECURING FULL REGULATORY AUTHORISATION."MONEYBARN CONTINUES TO WORK WITH FCA IN RESPECT OF ONGOING INVESTIGATION INTO AFFORDABILITY, FORBEARANCE AND TERMINATION OPTIONS".  Full Article

Provident Financial Says David Sear Resigned From Board
Friday, 26 Jan 2018 

Jan 26 (Reuters) - Provident Financial Plc ::DAVID SEAR HAS DECIDED TO STEP DOWN FROM BOARD AS FROM TODAY'S DATE​.  Full Article

Provident Financial Sees CCD FY Pre-Exceptional Loss Of About 120 Mln Pounds
Tuesday, 16 Jan 2018 

Jan 16 (Reuters) - Provident Financial Plc ::CCD IS EXPECTED TO REPORT A FY PRE-EXCEPTIONAL LOSS OF C.£120M WHICH IS AT UPPER END OF GUIDANCE PROVIDED IN AUGUST 2017 .TRADING STATEMENT.VANQUIS BANK AND MONEYBARN HAVE BOTH TRADED SATISFACTORILY THROUGH FINAL QUARTER OF YEAR.VANQUIS BANK AND MONEYBARN HAVE BOTH COMMENCED DIALOGUE WITH FINANCIAL CONDUCT AUTHORITY (FCA).HOME CREDIT BUSINESS IS ANNOUNCING A PROPOSED RATIONALISATION OF ITS CENTRAL SUPPORT FUNCTIONS WHICH IS SUBJECT TO WORKFORCE CONSULTATION.  Full Article

Sub-prime lender Provident's long-time CFO stepping down

Provident Financial Plc's long-time finance boss Andrew Fisher is stepping down, the sub-prime lender said on Tuesday, as it works to rebuild its businesses after a botched reorganisation and a series of regulatory investigations.