18th Oct 2013 06:33
LONDON (Alliance News) - Provident Financial Plc. (PFG.L), the UK based non-standard lender, said Friday that the group overall has performed in line with its internal plan during the third quarter and expects to do so for the year as a whole. It has a strong funding position that allows it to meet its contractual debt maturities and execute in full on its growth plans into the seasonal peak in 2016.
In its Interim Management Statement covering the period from 1 July 2013 to 17 October 2013, the company noted that Vanquis Bank has continued to trade ahead of its internal plan, delivering strong growth and robust margins, supported by stable, record low delinquency levels.
The company indicated that the strategic plan to reposition Consumer Credit Division or CCD over the next two years is now well advanced, with the main thrusts being to focus on driving returns within the core home credit business whilst investing in broadening the customer and product proposition through the roll-out of online direct repayment lending.
Copyright RTT News/dpa-AFX
Related Shares:
PFG.L