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Provident Financial plc

PFG.L

Latest Trade

167.50GBp

Change

-4.40(-2.56%)

Volume

133,220

Today's Range

167.50

 - 

176.30

52 Week Range

126.87

 - 

561.80

As of on the London Stock Exchange (LON) ∙ Minimum 15 minute delay

Latest Developments

Provident Pauses Face-To-Face Visits In Home Credit Business

March 27 (Reuters) - Provident Financial PLC <PFG.L>::COVID-19 AND DIVIDEND UPDATE.IN FIRST ELEVEN WEEKS OF 2020, THERE WAS NO DISCERNIBLE IMPACT OF COVID-19 ON CREDIT ISSUED, CREDIT QUALITY OR COLLECTIONS.GIVEN UNCERTAINTIES AT THIS TIME, 2019 FINAL DIVIDEND OF 16.0P PER SHARE WILL NO LONGER BE PROPOSED AT AGM.EXPECT BOTH CREDIT ISSUED AND COLLECTIONS PERFORMANCE TO BE ADVERSELY IMPACTED DURING THIS PERIOD OF UNCERTAINTY.TOO EARLY TO QUANTIFY POTENTIAL FINANCIAL IMPACT OF COVID-19 ON GROUP'S FINANCIAL PERFORMANCE.CONSIDER IT PRUDENT TO WITHDRAW ANY FORWARD GUIDANCE FOR 2020.FUTURE DIVIDEND DECISIONS WILL BE MADE AS AND WHEN CONDITIONS NORMALISE.CASH AND CAPITAL IMPACT OF DECISION TO WITHDRAW DIVIDEND IS APPROXIMATELY £40M.IN HOME CREDIT BUSINESS, INTRODUCED A TEMPORARY PAUSE ON FACE-TO-FACE VISITS GIVEN GOVERNMENT'S RECENT MEASURES.INTRODUCING REMOTE LENDING CAPABILITY FOR CEMS AND ELECTRONIC DISBURSEMENT OF LOANS FOR HOME CREDIT CUSTOMERS.ALSO ACCELERATED ROLL OUT OF PROVIDENT DIRECT TO INCREASE REPAYMENT OPTIONALITY FOR CUSTOMERS.

Coltrane Asset Management Discloses 7.75% Stake In Provident Financial As Of March 20 Vs Prior Stake Of 5.03%

March 20 (Reuters) - Provident Financial PLC <PFG.L>::COLTRANE ASSET MANAGEMENT DISCLOSES 7.75% STAKE IN PROVIDENT FINANCIAL AS OF MARCH 20 VERSUS PRIOR STAKE OF 5.03% - FILING.

Provident Financial Says It Continues To Expect That CCD Will Deliver Breakeven Result In 2020

March 10 (Reuters) - Provident Financial PLC <PFG.L>::PROVIDENT FINANCIAL - CONTINUE TO EXPECT THAT CCD WILL DELIVER A BREAKEVEN RESULT IN 2020, BEFORE TAKING ACCOUNT OF INCREASE IN GROUP'S FUNDING RATE.PROVIDENT FINANCIAL - REMAIN CONFIDENT THAT BUSINESS IS CAPABLE OF DELIVERING GROUP'S TARGET RETURNS IN MEDIUM TERM.PROVIDENT FINANCIAL - DO NOT BELIEVE FITCH DOWNGRADE WILL HAVE SIGNIFICANT IMPACT ON GROUP'S ABILITY TO SECURE NEW FUNDING AT COMPETITIVE RATES.

Provident Financial FY Group Adjusted Profit Before Tax Up 1.6% To £162.6 Mln

Feb 27 (Reuters) - Provident Financial PLC <PFG.L>::FY GROUP ADJUSTED PROFIT BEFORE TAX UP 1.6% TO £162.6M (2018 (RESTATED(1)): £160.1M).FY STATUTORY PROFIT BEFORE TAX UP 32.4% TO £128.8M (2018 (RESTATED(1)): £97.3M), REFLECTING LOWER EXCEPTIONAL COSTS.STRATEGIC INITIATIVES OUTLINED AT CAPITAL MARKETS DAY IN NOVEMBER ARE WELL UNDERWAY.AGREEMENT OF A £275M BILATERAL SECURITISATION FACILITY IN EARLY JANUARY 2020 TO FUND MONEYBARN'S BUSINESS FLOWS.ROP REFUND PROGRAMME AT VANQUIS BANK AND FCA INVESTIGATION AT MONEYBARN BOTH NOW COMPLETE.REGULATORY CAPITAL HEADROOM OF APPROXIMATELY £90M AT 1 JANUARY 2020.PROPOSES A FINAL DIVIDEND OF 16.0P PER SHARE (2018: 10.0P), UP 60.0% ON 2018.TOTAL DIVIDEND PER SHARE OF 25.0P PER SHARE (2018: 10.0P), UP 150% ON 2018.ALL OF OUR BUSINESSES HAVE PROGRESSIVELY TIGHTENED UNDERWRITING OVER LAST TWO YEARS.FY VANQUIS BANK'S ADJUSTED PROFIT BEFORE TAX REDUCED BY 9.1% TO £173.5M (2018 (RESTATED(1)): £190.9M).NEW CUSTOMER ACCOUNT BOOKINGS OF 369,000, 3,000 HIGHER THAN 2018 AND AHEAD OF MANAGEMENT'S PLANS IN FY AT VANQUIS.CCD FINISHED 2019 STRONGLY AND IS WELL-PLACED TO DELIVER A BREAK-EVEN RESULT IN 2020.SIGNIFICANT REDUCTION OF 46.3% IN ADJUSTED LOSS BEFORE TAX TO £20.8M (2018: LOSS BEFORE TAX OF £38.7M) IN FY AT CCD.REDUCTION IN CUSTOMER NUMBERS AND RECEIVABLES BEGINNING TO STABILISE, ENDING YEAR AT 522,000 (2018: 560,000) AT CCD IN FY.CET1 RATIO AT END OF 2019 WAS 30.7% WHICH PROVIDES HEADROOM OF APPROXIMATELY £117M.

UK's FCA Fines Moneybarn 2.8 Mln Stg For Unfair Customer Treatment In Arrears

Feb 17 (Reuters) - UK's Financial Conduct Authority::UK'S FCA FINES MONEYBARN £2.77M FOR UNFAIR TREATMENT OF CUSTOMERS IN ARREARS.FCA - MONEYBARN DID NOT GIVE ITS CUSTOMERS CHANCE TO CLEAR THEIR ARREARS OVER A REALISTIC & SUSTAINABLE PERIOD.FCA - MONEYBARN DID NOT DISPUTE THE FCA’S FINDINGS..FCA - MONEYBARN DID NOT COMMUNICATE LIKELY FINANCIAL CONSEQUENCES OF FAILING TO KEEP UP PAYMENTS TO CUSTOMERS IN WAY WHICH WAS CLEAR, FAIR,.FCA - MONEYBARN'S AGREEMENT TO ACCEPT FCA’S FINDINGS MEANT IT QUALIFIED FOR 30% DISCOUNT IN ADDITION TO CREDIT IT GOT FOR REDRESS PAID TO CUSTOMERS.FCA - MONEYBARN VOLUNTARILY PROVIDED REDRESS OF MORE THAN £30 MILLION TO ALL 5,933 CUSTOMERS POTENTIALLY AFFECTED BY FAILINGS.

Provident Financial Says FCA Closes Investigation Into Aspects Of Moneybarn's Historic Lending Practices

Feb 17 (Reuters) - Provident Financial PLC <PFG.L>::FINANCIAL CONDUCT AUTHORITY INVESTIGATION INTO ASPECTS OF MONEYBARN'S HISTORIC LENDING PRACTICES IS NOW CLOSED.TOTAL COST OF FCA INVESTIGATION INTO MONEYBARN WAS WITHIN £20 MILLION PROVISION ORIGINALLY ESTABLISHED IN 2017.

Provident Financial Sees FY Results In Line With Market View

Jan 15 (Reuters) - Provident Financial PLC <PFG.L>::TRADING UPDATE.DELIVERED RESULTS IN LINE WITH INTERNAL PLANS DURING Q4 OF YEAR.VANQUIS BANK HAS DELIVERED RESULTS MODESTLY ABOVE EXPECTATIONS DUE TO FAVOURABLE DELINQUENCY AND TIGHT COST CONTROL.MONEYBARN CONTINUED TO DELIVER ATTRACTIVE RECEIVABLES GROWTH IN Q4 ALTHOUGH PERFORMED MODESTLY BELOW INTERNAL PLAN ON HIGHER IMPAIRMENT.EXPECT TO REPORT FULL-YEAR RESULTS IN LINE WITH MARKET EXPECTATIONS.AGREED A BILATERAL SECURITISATION FACILITY WITH NATWEST MARKETS TO FUND MONEYBARN BUSINESS FLOWS.NEW FACILITY PROVIDES UP TO £100M OF INITIAL FUNDING AND IS ANTICIPATED TO GROW TO £275M OVER NEXT 18 MONTHS.FACILITY PROVIDES A COMPARABLE FUNDING RATE TO REVOLVING CREDIT FACILITY WHICH REDUCED FROM £450M TO £235M IN JULY 2019.

Coltrane Asset Management Discloses Stake Of 9.06% In Provident Financial As Of Jan 8

Jan 9 (Reuters) - Provident Financial PLC <PFG.L>::COLTRANE ASSET MANAGEMENT DISCLOSES STAKE OF 9.06% IN PROVIDENT FINANCIAL AS OF JAN 8 VERSUS PRIOR STAKE OF 8.44% - FILING.

Link Fund Solutions Discloses Less Than 5% Stake In Provident Financial As Of Oct 19, Versus Previous Stake Of 9.02%- Filing

Provident Financial PLC <PFG.L>::LINK FUND SOLUTIONS DISCLOSES LESS THAN 5% STAKE IN PROVIDENT FINANCIAL AS OF OCT 19, VERSUS PREVIOUS STAKE OF 9.02%- FILING.

Provident Financial Appoints Neeraj Kapur As CFO

Dec 9 (Reuters) - Provident Financial PLC <PFG.L>::DIRECTORATE CHANGE.ANNOUNCES APPOINTMENT OF NEERAJ KAPUR AS CHIEF FINANCE OFFICER.KAPUR WILL JOIN BOARD AND START AS CHIEF FINANCE OFFICER ON 1 APRIL 2020.

Quote and financial data from Refinitiv. Fund performance data provided by Lipper. All quotes delayed a minimum of 15 minutes.

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