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Profit warning for banking group despite recovery strategy

Vanquis CEO says the group has short term challenges to address

Ian mclaughlinVanquis banking groupFinancial conduct authorityBradford headquartered vanquis banking groupProvident financial

Vanquis shares crater as bank issues profit warning amid surge in third-party claims

Shares in Vanquis Banking Group tumbled as much as 43 per cent on Monday morning after the specialist lender said it expects profit to come in "substantially lower" than analysts' estimates in 2024 from costs tied to restructuring and a surge in third-party claims.

Lars mucklejohnIan mclaughlinVanquis banking groupFinancial ombudsman

Vanquis issues profits drop warning due to increase in car finance deal claims

The group said that while it is not part of Financial Conduct Authority investigations in motor financing, it has seen "significant levels of third-party complaint submissions"

Ian mclaughlinDame jayne anne gadhiaVanquis bankFinancial conduct authorityVirgin moneyCustomer service

Short-term challenges hit Vanquis Banking Group profits

Bradford-based Vanquis Banking Group has warned that adjusted pre-tax profit is set to be "substantially lower than market consensus" for the 2024 financial year as the group works to address short-term challenges.

Ian mclaughlinVanquis banking groupBanking group

Vanquis: Bradford-based specialist lender warns over hit to profits from motor finance claims

Vanquis: Bradford-based specialist lender warns over hit to profits from motor finance claims
yorkshirepost.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yorkshirepost.co.uk Daily Mail and Mail on Sunday newspapers.

Greg wrightIan mclaughlinDame jayne anne gadhiaDominic lipinskiFinancial conduct authorityVirgin moneyShore capital

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