February 28, 2017 / 8:05 AM / 7 months ago

Provident Financial says impact from Brexit minimal this year

Feb 28 (Reuters) - British subprime lender Provident Financial PLC said rising unemployment and inflation in the wake of Britain’s decision to leave the European Union is unlikely to have a significant impact in 2017 as it reported a 14 percent rise in full-year pretax profit.

The company, which provides credit cards and loans to 2.4 million customers who are unable to meet the lending criteria of mainstream banks, said pretax profit rose 14.1 percent to 334.1 million pounds ($414.95 million) in the year ended Dec. 31, 2016 from 292.9 million pounds a year earlier. ($1 = 0.8052 pounds) (Reporting by Justin George Varghese and Noor Zainab Hussain in Bengaluru, editing by Louise Heavens)

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