January 15, 2020 / 7:17 AM / a month ago

Provident says credit card business slightly beat expectations in Q4

Jan 15 (Reuters) - Sub-prime lender Provident Financial said on Wednesday its credit card business Vanquis Bank, which has been a driver of profit, performed modestly above expectations in the fourth quarter, partly due to tight cost control.

Provident, which fended off a takeover attempt by smaller rival Non-Standard Finance last year, added that its consumer credit business also delivered results in line with its plans, helping it forecast 2019 to be in line with market expectations. (Reporting by Muvija M in Bengaluru; Editing by Shailesh Kuber)

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