‘Improved customer payment behaviour’ sees Vanquis back in the black
Lender Vanquis has bounced back into the black as cost savings and improved customer resilience and payment behaviour drives turnaround.
In the year ended 31 December, the Bradford-based group reporting pre-tax profits of £8.3m, a significant recovery from a £138.0 million loss in 2024.
The improvement was underpinned by a 22% increase in gross customer interest-earning balances to £2,824m, a 33% reduction in operating costs to £265.5m, and a fall in the cost of risk to 7.3%.
The group’s capital position remained strong... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
