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Provident Financial PLC (PFG.L)

PFG.L on London Stock Exchange

678.40GBp
23 May 2018
Change (% chg)

-0.80 (-0.12%)
Prev Close
679.20
Open
678.20
Day's High
691.00
Day's Low
666.20
Volume
748,093
Avg. Vol
1,228,387
52-wk High
2,301.17
52-wk Low
312.14

Latest Key Developments (Source: Significant Developments)

Provident Financial Says Launched And Priced 250 Mln Pounds 5 Year Fixed Rate Bonds
Wednesday, 23 May 2018 

May 23 (Reuters) - Provident Financial PLC ::LAUNCH AND PRICE OF £250 MILLION BOND ISSUE.ANNOUNCES THAT IT HAS LAUNCHED AND PRICED £250 MILLION 5 YEAR FIXED RATE BONDS.BONDS WILL CARRY A SEMI-ANNUAL COUPON OF 7% AND WILL BE ISSUED UNDER £2,000,000,000 EURO MEDIUM TERM NOTE PROGRAMME.INTENDS TO USE SOME OR ALL OF PROCEEDS TO FINANCE ITS TENDER OFFER FOR UP TO £250M OF EXISTING BONDS MATURING IN OCTOBER 2019.  Full Article

Provident Financial Announces Tender Offer To Holders Of Outstanding £250 Mln Bonds Due 2019
Tuesday, 22 May 2018 

May 22 (Reuters) - Provident Financial PLC ::PROVIDENT FINANCIAL PLC - ANNOUNCES A TENDER OFFER TO HOLDERS OF ITS OUTSTANDING £250 MILLION 8.00 PER CENT GUARANTEED BONDS DUE 2019.PROVIDENT FINANCIAL - WILL PAY FOR BONDS ACCEPTED BY IT FOR PURCHASE PURSUANT TO OFFER CASH PURCHASE PRICE EQUAL TO 108 PERCENT OF PRINCIPAL AMOUNT OF BONDS.  Full Article

Provident Financial Says Home Credit Business Delivered "Good Collections Performance" During Q1
Wednesday, 9 May 2018 

May 9 (Reuters) - Provident Financial PLC ::RECOVERY PLAN ON TRACK AND HOME CREDIT BUSINESS DELIVERED GOOD COLLECTIONS PERFORMANCE DURING CRITICAL Q1 TRADING PERIOD.EACH OF GROUP'S THREE BUSINESSES HAVE STARTED 2018 WITH POSITIVE MOMENTUM.VANQUIS BANK HAS DELIVERED PROFIT AHEAD OF PLAN IN Q1 AS A RESULT OF ROBUST MARGINS AND OPERATIONAL LEVERAGE.MONEYBARN DELIVERED STRONG NEW BUSINESS VOLUMES AND LEAD INDICATORS SHOW DELINQUENCY TRENDS ARE NOW IMPROVING.PROCESS TO RECRUIT NEW CHAIRMAN AND ADDITIONAL NON-EXECUTIVE DIRECTORS IS WELL UNDERWAY.FOLLOWING RIGHTS ISSUE GROUP'S CAPITAL POSITION AND LIQUIDITY ARE BOTH STRONG.VANQUIS BANK CUSTOMER NUMBERS ENDED Q1 AT 1,723,000, 7.8% HIGHER THAN LAST YEAR.HOME CREDIT ACTIVE CUSTOMER NUMBERS ENDED Q1 AT 491,000, DOWN FROM 527,000 AT DECEMBER 2017, REFLECTING TYPICAL SEASONAL REDUCTION.MANAGEMENT HEAVILY FOCUSED ON CONTINUING CONSTRUCTIVE RELATIONSHIP WITH REGULATOR, INCLUDING IN RESPECT OF FCA'S WIDER REVIEW OF HOME CREDIT MARKET.HOME CREDIT BUSINESS EXPECTED TO RETURN TO BREAKEVEN ON ANNUALISED RUN RATE BASIS DURING H2 2018 AND MOVE INTO PROFITABILITY IN 2019.SATSUMA UNDERWRITING STANDARDS HAVE BEEN FURTHER TIGHTENED DURING Q1.FOCUS IN 2018 FOR HOME CREDIT WILL REMAIN ON COMPLETION OF RECOVERY PLAN AND SECURING FULL REGULATORY AUTHORISATION."MONEYBARN CONTINUES TO WORK WITH FCA IN RESPECT OF ONGOING INVESTIGATION INTO AFFORDABILITY, FORBEARANCE AND TERMINATION OPTIONS".  Full Article

Provident Financial Says David Sear Resigned From Board
Friday, 26 Jan 2018 

Jan 26 (Reuters) - Provident Financial Plc ::DAVID SEAR HAS DECIDED TO STEP DOWN FROM BOARD AS FROM TODAY'S DATE​.  Full Article

Provident Financial Sees CCD FY Pre-Exceptional Loss Of About 120 Mln Pounds
Tuesday, 16 Jan 2018 

Jan 16 (Reuters) - Provident Financial Plc ::CCD IS EXPECTED TO REPORT A FY PRE-EXCEPTIONAL LOSS OF C.£120M WHICH IS AT UPPER END OF GUIDANCE PROVIDED IN AUGUST 2017 .TRADING STATEMENT.VANQUIS BANK AND MONEYBARN HAVE BOTH TRADED SATISFACTORILY THROUGH FINAL QUARTER OF YEAR.VANQUIS BANK AND MONEYBARN HAVE BOTH COMMENCED DIALOGUE WITH FINANCIAL CONDUCT AUTHORITY (FCA).HOME CREDIT BUSINESS IS ANNOUNCING A PROPOSED RATIONALISATION OF ITS CENTRAL SUPPORT FUNCTIONS WHICH IS SUBJECT TO WORKFORCE CONSULTATION.  Full Article

Non-Standard Finance Net Loan Book, Customer Numbers Helped By New Agents Added
Monday, 15 Jan 2018 

Jan 15 (Reuters) - Non-Standard Finance Plc ::NON-STANDARD FINANCE PLC - AT 31 DECEMBER 2017 NET LOAN BOOK HAD REACHED £148.5M (2016: £122.4M), AN INCREASE OF 21% VERSUS PRIOR YEAR.NON-STANDARD FINANCE PLC - REMAIN ON COURSE TO OPEN A FURTHER 12 NEW LOCATIONS DURING FIRST HALF OF 2018, INCREASING OUR NETWORK TO 65 BRANCHES.NON-STANDARD FINANCE PLC - AT LOANS AT HOME, VALUE OF OUR NET LOAN BOOK AT 31 DECEMBER 2017 WAS UP BY 53% TO £51.2M (2016: £33.4M).NON-STANDARD FINANCE PLC -NET LOAN BOOK DRIVEN IN LARGE PART BY ADDITION OF 442 NEW AGENTS THAT JOINED NETWORK DURING YEAR.NON-STANDARD FINANCE PLC - ALSO HELPED TO DRIVE CUSTOMER NUMBERS THAT REACHED 104,100 AT 31 DECEMBER 2017 (2016: 93,600).  Full Article

Provident Financial Informed UK's FCA Starts Probe Into Moneybarn
Tuesday, 5 Dec 2017 

Dec 5 (Reuters) - Provident Financial Plc ::HAS BEEN INFORMED THAT FINANCIAL CONDUCT AUTHORITY (FCA) HAS COMMENCED AN INVESTIGATION INTO MONEYBARN.INVESTIGATION IN RELATION TO PROCESSES APPLIED TO AFFORDABILITY ASSESSMENTS FOR VEHICLE FINANCE AND TREATMENT IN FINANCIAL DIFFICULTIES.AIMS TO ACT RESPONSIBLY IN ALL ITS RELATIONSHIPS, AND TO PLAY A POSITIVE ROLE IN COMMUNITIES IT SERVES.FCA HAS CONTINUED TO DISCUSS CERTAIN PROCESSES WITH MONEYBARN AND MONEYBARN HAS MADE A NUMBER OF PROCESS IMPROVEMENTS.  Full Article

Provident Financial Says Exec Chairman To Lead Process To Appoint CEO
Tuesday, 28 Nov 2017 

Nov 28 (Reuters) - Provident Financial Plc ::PROVIDENT FINANCIAL PLC - ‍STUART SINCLAIR ASSUMES ROLE OF SENIOR INDEPENDENT DIRECTOR WITH IMMEDIATE EFFECT​.PROVIDENT FINANCIAL PLC - ‍ANDREA BLANCE WILL BECOME CHAIRMAN OF REMUNERATION COMMITTEE REPLACING MALCOLM, WHO STEPS DOWN WITH IMMEDIATE EFFECT​.PROVIDENT FINANCIAL PLC - ‍AS PREVIOUSLY ANNOUNCED, MALCOLM LE MAY HAS BEEN APPOINTED AS INTERIM EXECUTIVE CHAIRMAN​.PROVIDENT FINANCIAL PLC - ‍MALCOLM LE MAY WILL LEAD ONGOING PROCESS TO APPOINT A NEW CHIEF EXECUTIVE OF COMPANY.​.  Full Article

Provident Financial Plc announces death of executive chairman
Friday, 24 Nov 2017 

Nov 24 (Reuters) - Provident Financial Plc :SAYS THAT EXECUTIVE CHAIRMAN MANJIT WOLSTENHOLME HAS PASSED AWAY SUDDENLY ON NOV 23, 2017​.‍HAS APPOINTED MALCOLM LE MAY, CURRENTLY SENIOR INDEPENDENT DIRECTOR OF COMPANY, AS INTERIM EXECUTIVE CHAIRMAN​.  Full Article

Provident Financial names first chief risk officer-source
Wednesday, 1 Nov 2017 

Nov 1 (Reuters) - Provident Financial Plc ::PROVIDENT FINANCIAL APPOINTS NORTHERN ROCK 'RESCUE EXECUTIVE' RICK HUNKIN AS ITS FIRST CHIEF RISK OFFICER- SOURCE.  Full Article

UPDATE 1-Provident Financial says recovery plan on track

May 9 British sub-prime lender Provident Financial said on Wednesday its recovery plans would deliver 2018 results in line with internal plans while its Vanquis bank unit reported profits ahead of earlier forecasts.