Provident Financial PLC (PFG.L)
16 Aug 2019
Tue, Jul 30 2019
Provident Financial's boss aims to return its troubled home credit unit to profit in the second half of 2020 as the more than century-old lender also moves past a costly and unsolicited takeover attempt by its smaller rival.
* FCA probe into unit nearly complete (Adds CEO comments from call, share move, analyst comment)
July 30 Sub-prime lender Provident Financial on Tuesday reported adjusted first-half profit in line with its own estimates, as it works on reviving its battered home credit business.
LONDON Provident Financial Group is planning to revamp how it measures the performance of its doorstep lending staff, with a view to resuming controversial bonus payments linked to loans issued to subprime borrowers.
* Pay, bonuses linked to sales activity and customer outcomes
** Shares of Provident Financial down 0.37% after Jefferies cuts price target
LONDON Provident Financial's shares jumped on Wednesday after the collapse of a hostile takeover bid for the doorstep lender by rival Non-Standard Finance.
** Shares of British sub-prime lender Provident Financial jump over 9% after rival Non-Standard Finance drops hostile takeover bid
LONDON, June 5 Provident Financial's board welcomed the collapse of a hostile takeover bid for the doorstep lender by sector rival Non-Standard Finance, which sent its shares higher on Wednesday.
British subprime lender Non-Standard Finance PLC is dropping its hostile 1.3 billion pound ($1.65 billion) bid for rival Provident Financial PLC, NSF said on Tuesday.
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