25th May 2023 10:08
Vanquis Banking Group PLC - Bradford, England-based lender - Says in the first quarter of 2023, continues to trade in line with expectations. Looking ahead, says it will focus on maintaining strong asset quality and risk adjusted returns. Chief Executive Officer Malcolm Le May says: "The group has made a positive start to the year. Our strong competitive position, supported by the group's access to capital and funding markets, is further strengthened by our strategic repositioning as a specialist banking group, focused on customers in the mid-cost and near-prime credit markets."
Back in March, Vanquis reported pretax profit of GBP110.1 million for 2022, down 23% from GBP142.2 million. Total income was GBP480.7 million, up 0.4% from GBP478.7 million a year earlier.
Current stock price: 222.68 pence, down 0.6% on Thursday morning in London
12-month change: down 13%
By Xindi Wei, Alliance News reporter
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