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Provident Financial PLC (PFG.L)

PFG.L on London Stock Exchange

818.50GBp
15 Dec 2017
Change (% chg)

8.50 (+1.05%)
Prev Close
810.00
Open
808.50
Day's High
829.50
Day's Low
804.00
Volume
428,082
Avg. Vol
2,226,121
52-wk High
3,284.00
52-wk Low
426.60

Latest Key Developments (Source: Significant Developments)

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

Deutsche Bank cuts stake in Provident Financial to 6.73 pct - filing‍​
Tuesday, 24 Oct 2017 

Oct 24 (Reuters) - Filing: Provident Financial : :DEUTSCHE BANK AG CUTS STAKE IN PROVIDENT FINANCIAL TO 6.73 PERCENT FROM 8.05 PERCENT EARLIER - FILING‍​.  Full Article

Provident financial ‍confirms FY dividend will not be paid
Friday, 13 Oct 2017 

Oct 13 (Reuters) - Provident Financial Plc ::HOME CREDIT BUSINESS RECOVERY PLAN HAS BEEN DEVELOPED UNDER NEW LEADERSHIP TO RE-ESTABLISH RELATIONSHIPS WITH CUSTOMERS​.‍CONFIRMS THAT A FULL-YEAR DIVIDEND WILL NOT BE PAID​.SEARCH FOR A NEW CHIEF EXECUTIVE IS UNDERWAY​.PROGRESS CONSISTENT WITH GUIDANCE PROVIDED OF PRE-EXCEPTIONAL FY LOSS FOR CONSUMER CREDIT DIVISION IN RANGE OF BETWEEN £80M-£120M.‍HOME CREDIT BUSINESS, WHICH CURRENTLY HAS C.500,000 ACTIVE FIELD CUSTOMERS, IMPLEMENTED A NEW OPERATING MODEL ON 6 JULY 2017​.VANQUIS BANK CONTINUES TO WORK WITH FINANCIAL CONDUCT AUTHORITY (FCA) IN RELATION TO INVESTIGATION INTO REPAYMENT OPTION PLAN​.‍NEW MODEL INVOLVED EMPLOYING 2,500 FULL-TIME CUSTOMER EXPERIENCE MANAGERS (CEMS) IN PLACE OF 4,500 SELF-EMPLOYED AGENTS​.IN VANQUIS, ‍NEW ACCOUNT BOOKINGS THROUGH Q3 WERE 5% HIGHER THAN LAST YEAR​.‍COLLECTIONS PERFORMANCE IN CCD IN SEPTEMBER WAS 65%, UP FROM 57% IN AUGUST.‍IN VANQUIS, YEAR-ON-YEAR CUSTOMER GROWTH OF 13% AND RECEIVABLES GROWTH OF 14% IN THREE MONTHS TO OCT 12​.SALES IN CCD IN SEPT WERE APPROXIMATELY £6M PER WEEK LOWER THAN PRIOR YEAR COMPARED WITH £9M DURING AUGUST​.MONEYBARN ‍CUSTOMER NUMBERS, RECEIVABLES ENDED SEPT AT 49,000 (SEPT 2016: 39,000) AND £362M (SEPT 2016: £286M) RESPECTIVELY​.  Full Article

UK's ‍Information Commissioner's Office​ fines Provident Financial's Vanquis Bank
Tuesday, 10 Oct 2017 

Oct 10 (Reuters) - UK'S ‍INFORMATION COMMISSIONER'S OFFICE​::UK'S ‍INFORMATION COMMISSIONER'S OFFICE​ - ‍BRADFORD-BASED BANK AND LONDON ADVERTISING FIRM FINED OVER ILLEGAL MARKETING​.ICO- ‍VANQUIS BANK INSTIGATED A CAMPAIGN TO SEND 870,849 SPAM TEXT MESSAGES AND 620,000 SPAM EMAILS TO PROMOTE ITS CREDIT CARDS​.UK'S ICO - ‍VANQUIS BANK HAS NOW BEEN FINED £75,000 BY ICO​.  Full Article

Provident Financial Q3 profit performance in line with internal plans
Friday, 14 Oct 2016 

Provident Financial Plc : Interim management statement . Has continued to perform well and produced a Q3 profit performance in line with its internal plans . Vanquis bank has delivered good growth and margins through Q3 of year . Customer numbers at Vanquis and receivables at end of september showed year-on-year growth of 7 pct and 13 pct compared with 6.5 pct and 11.7 pct at June . CCD- year-on-year receivables growth of 5 pct at end of September, up from 2.6 pct at june . Performed well through Q3 of year . Credit quality in all three businesses is very sound and reinforces confidence in delivering good results for 2016 as a whole . Satsuma's customer numbers and receivables ended seasonally quiet Q3 at 49,000 (June 2016: 48,000) and 14 mln stg (June 2016: 12.6 mln stg) . Satsuma business is expected to make a small loss for year as a whole .Moneybarn customer numbers and receivables ended September at 39,000 (June 2016: 36,000) and 286 mln stg (June 2016: 264.4 mln stg) respectively.  Full Article

Provident Financial says H1 adj pretax profit up 17.6 pct
Tuesday, 26 Jul 2016 

Provident Financial Plc : Interim dividend up 10.2 percent to 43.2 penceper share . First half adjusted profit before tax 1 up 17.6% to £148.9m . First half statutory profit before tax up 48.9% to £165.4m .Interim dividend per share up 10.2% to 43.2p (2015: 39.2p).  Full Article

Provident Financial plc recommends final dividend
Tuesday, 23 Feb 2016 

Provident Financial plc:Says directors are recommending final dividend in respect of the financial year ended Dec. 31, 2015 of 80.9 p per share (2014: 63.9p).Says dividend will be paid on June 24, 2016 to shareholders who are on register of members at May 20, 2016.  Full Article

UPDATE 2-Provident hit again as UK regulator opens new probe

* Shares fall as much as 15.9 pct http://bit.ly/2BLIZBJ (Adds details, share movement, analyst comments)