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Provident Financial Logs Lower Profit For H1; Sets Interim Dividend

LONDON (dpa-AFX) - Provident Financial plc (PFG.L) on Wednesday reported statutory continuing profit before tax of 46.9 million pounds for the first six months ending Jun 30, 2022, lower than 57.7 ....

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Subprime Lender Provident Axes Unit Amid Regulatory Shifts

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Subprime Lender Provident Axes Unit Amid Regulatory Shifts
Law360, London (May 10, 2021, 7:01 PM BST) British subprime lender Provident Financial PLC said on Monday that it would withdraw its unit that specializes in lending to high-risk customers through door-to-door sales from the market, following a regulatory crackdown on the consumer credit sector.
The doorstep business, which dates back to 1880 and involves visiting customers with poor credit history in person to issue them loans, could be sold off or placed into a managed run-off, or winding up, Chief Executive Officer Malcolm Le May said in a statement on the company s annual report and financial documents. ....

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