Vanquis Banking Group 20 (VANQ)

Sector:

Financials

Index:

FTSE Small Cap

85.80p
   
  • Change Today:
    -2.10p
  • 52 Week High: 89.20
  • 52 Week Low: 37.90
  • Currency: UK Pounds
  • Shares Issued: 256.48m
  • Volume: 426,922
  • Market Cap: £220.06m
  • Beta: 0.01

Vanquis Banking reiterates FY financial guidance

By Iain Gilbert

Date: Thursday 07 Nov 2024

LONDON (ShareCast) - (Sharecast News) - Sub-prime lender Vanquis Banking Group reiterated its full-year financial guidance on Thursday as it said turnaround efforts were "progressing".
Vanquis said gross customer interest earnings balances were flat in Q3 at £2.25bn, while net receivables were up 4% at £2.08bn and year-to-date net interest margins contracted 0.2 percentage points to 18.6%.

Credit Card balances were "marginally down", as growth from recent originations was offset by continued paydowns and outward balance transfers.

The London-listed group also highlighted that it expects to have delivered £60.0m of gross cost savings by the end of 2024, and was on track for a further £15.0m of savings by the end of 2025, and £23.0m-28.0m of savings through its Gateway technology transformation programme.

Chief executive Ian McLaughlin said: "Since we laid out our strategy in March, we have made progress in the turnaround of this business. Though not without challenges, we continue to position the business for future success.

"We remain on course to realise £60.0m of gross cost savings by year-end and have plans in place to deliver the additional cost reductions for 2025 and 2026, as previously announced. Complaint costs remained broadly in line with expectations, though they continue to be elevated, and we are engaging with regulators to address the associated issues."

As of 1205 GMT, Vanquis Banking shares were up 1.82% at 41.80p.





Reporting by Iain Gilbert at Sharecast.com

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VANQ Market Data

Currency UK Pounds
Share Price 85.80p
Change Today -2.10p
% Change -2.39 %
52 Week High 89.20
52 Week Low 37.90
Volume 426,922
Shares Issued 256.48m
Market Cap £220.06m
Beta 0.01

VANQ Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
23.51% above the market average23.51% above the market average23.51% above the market average23.51% above the market average23.51% above the market average
50.00% above the sector average50.00% above the sector average50.00% above the sector average50.00% above the sector average50.00% above the sector average
Price Trend
48.71% above the market average48.71% above the market average48.71% above the market average48.71% above the market average48.71% above the market average
39.62% above the sector average39.62% above the sector average39.62% above the sector average39.62% above the sector average39.62% above the sector average
Income Not Available
Growth
83.61% below the market average83.61% below the market average83.61% below the market average83.61% below the market average83.61% below the market average
76.09% below the sector average76.09% below the sector average76.09% below the sector average76.09% below the sector average76.09% below the sector average

VANQ Dividends

  Latest Previous
  Final Interim
Ex-Div 18-Apr-24 10-Aug-23
Paid 30-May-24 21-Sep-23
Amount 1.00p 5.00p

Trades for 28-May-2025

Time Volume / Share Price
16:38 17,900 @ 85.80p
16:35 90,125 @ 85.80p
16:35 787 @ 85.80p
16:35 783 @ 85.80p
16:35 569 @ 85.80p

VANQ Key Personnel

CEO Ian McLaughlin
Chair Sir Peter Estlin
CFO Dave Watts

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