Provident Financial Share Discussion Threads

[dual] 02/12/2020 16:07

Good rise today pass 310Hopefully see 400p soon.

[jimbobs147] 18/11/2020 12:33

£4.53 until I'm back in the black, going to have to be a deal to end all deals and a miracle on the Covid front for me.

[salamander69] 18/11/2020 09:55

300 reached today. Hopefully patience will pay off here. Just need a brexit leave deal sorted and hopefully not too long to wait to 400+

[diohohku] 15/11/2020 13:54

babycheeky you from wimbledon

[diohohku] 15/11/2020 13:36

Who is this babycheeky

[babycheeky] 13/11/2020 08:32

Game set and match.

[babycheeky] 12/11/2020 22:40

LOL Once again dave uses his 3 extra handles to give himself 3 green ticks. dave we can all see through you and what a dishonest person you are.

[discodave45] 12/11/2020 22:17

Some profit taking today by the looks of it.

[babycheeky] 11/11/2020 13:50

His usual 3 green ticks from 3 of his other handles he used on CNA when peddling his lies and slander.

[babycheeky] 11/11/2020 13:47

You don't have an idea disodave4.

[discodave45] 11/11/2020 13:42

Nice to see it go above 300 early this morning, hopefully further attempts to break this will follow in time.

[wad collector] 05/11/2020 11:25

Yesterday ; third Quarter Trading Update 4 November, 2020 Provident Financial plc ('the Group') is the leading provider of credit products to consumers who are underserved by mainstream lenders. Today's statement covers the Group's trading from July to the end of September. Malcom Le May, Chief Executive Officer, commented: "The Group continued to trade in-line with internal plans during the third quarter and remains on-track to meet market expectations for 2020. Our capital and liquidity are a source of competitive advantage and we remain vigilant for possible economic shocks, including those caused by further local and national lockdowns. Such measures will inevitably have an impact on customer expenditure patterns and loan origination. As I have expressed previously, I am immensely proud of how the Group has responded to the challenges of the Covid-19 pandemic and supported the financial needs of our customers throughout. The innovations each of our businesses introduced, and the collective effort of my colleagues across the Group, leaves us in a strong position operationally but considerable uncertainty remains." Highlights -- The Group continued to trade in-line with management's expectations during the third quarter and remains on-track to meet market expectations for its financial year to December 2020. -- At the end of September, the Group's balance sheet position remained robust. Regulatory capital of c.GBP700m equates to headroom of c.GBP200m above minimum regulatory requirements and a CET1 ratio of c.36%. Total liquidity at the end of September was c.GBP1.1bn. Headroom on committed facilities at the Group was c.GBP180m and c.GBP700m at Vanquis Bank. -- Vanquis Bank delinquency trends were stable during the quarter and payment holiday take-up continued to reduce to less than 1% of customers at the end of September. As expected, customer booking volumes for the quarter were lower year-on-year, in-line with the tighter underwriting standards enacted earlier in the year. Customer spend increased by c.31% on the previous quarter but remains c.15% lower year-on-year, in-line with trends seen across the credit card market. -- Moneybarn continues to see strong levels of demand for used vehicles across its markets and new business volumes during the period increased significantly on the previous quarter. Payment holiday take-up at the end of September was c.1.5% of customers with a vastly reduced take-up trend. -- In Home Credit, collections performance remained strong and has now aligned to pre-Covid levels, with the proportion of collections being done via remote methods being over 80%. Home Credit lending to existing customers was over 70% of normalised third quarter levels and new customer lending was c.60% of normalised levels, reflecting the impact of tighter lending criteria. The consultation to reduce headcount within the home credit business is complete and will result in annualised cost savings of c.GBP13m with exceptional costs to achieve of c.GBP2m in 2020. As seen across the sector, home credit experienced an anticipated increase in customer complaints during the period, which are expected to remain within 2020 forecast levels. -- The Group continues to adapt to a changing regulatory environment. Vanquis Bank has responded to the Financial Conduct Authority's (FCA) paper on persistent debt and Moneybarn is working towards appropriate customer outcomes following FCA guidance post-Covid-19. CCD is working with all stakeholders following the FCA's review of relending practices in the high-cost credit market and following heightened customer complaints activity, in common with the sub-prime sector. The Group will continue to engage with its customers, and provide support where necessary, following the recently announced six month extension to payment holidays by the FCA. Malcom Le May, Chief Executive Officer, continued: "Turning now to the performance of the Group during the quarter, delinquency trends across the businesses were stable and the take-up of payment holidays continued to be lower than our initial expectations. New business volumes increased during the period and, importantly, we are well positioned for the traditionally busier fourth quarter. In the context of the trends seen in the sub-prime market, including the impact of Covid-19, the FCA's industry-wide relending practices review and heightened customer complaint activity across the sector, I have asked the new Managing Director of CCD, Hamish Paton, to undertake an operational review of the division. This will ensure that the business is best positioned, in the context of these industry dynamics, to return to delivering long-term sustainable profitability, whilst continuing to focus on good customer outcomes. Brexit has taken a back seat in many people's minds during the Covid-19 pandemic. However, we continue to work on the structure of the businesses within the Group and, as part of that, to ensure the most efficient corporate structure for our Republic of Ireland business post-Brexit. Finally, I have resumed my position as CEO this week and I would like to thank my colleagues across the Group for their hard work, and kind messages of support, during my absence. In particular, I would like to thank Patrick Snowball, our Chairman, for kindly agreeing to take the reins and ensuring the continuous support for our customers. We are working towards our financial and operational objectives, as well as helping to put our customers on a path to a better everyday life. I look forward to updating the market on our progress in due course, which will come in the form of our preliminary results next year."

[woland1] 05/11/2020 10:35

Can't read this as it's behind a pay wall. Anybody have access? https://www.thetimes.co.uk/article/is-there-a-recovery-on-the-doorstep-for-provident-financial-22658sgxv

[discodave45] 03/11/2020 09:13

.....just read the Amigo RNS, ouch!. Plus they are not taking on any new customers until 2021, so could be some read across.

[discodave45] 03/11/2020 09:01

Looks like some decent news coming, tomorrow?.

[jeannettetigger] 31/10/2020 20:10

Disco you have been totally humiliated on the Saga forum today, will you ever learn?. Saga forum page 3580 of 3608 posting as diggerdog1, just like you posted as BuyHighSelllowdoh on the PFG forum then deleted it. (PFG forum page 3478 of 4006) then read following 7 posts.

[jeannettetigger] 31/10/2020 20:06

Just good timing!

[jeannettetigger] 31/10/2020 19:55

He also has handles of BuyHighSelllowdoh, ohoh,and Diohohku.

[discodave45] 31/10/2020 19:53

BabyYou are filteredBoo booReported you as well.......best get some fresh nappies

[babycheeky] 31/10/2020 19:45

jeannettetigger dave is such fool, he thinks people can’t see he is discodave4 and diggerdog1. He has at least another 3 handles, what a complete idiot. He was just the same when he was posting as discodave4.

[discodave45] 31/10/2020 19:38

Just noticed that IG has the 4th NovHTTPS://www.ig.com/uk/trading-subscriptions/week-ahead

[jeannettetigger] 31/10/2020 12:10

Cut, if you visit the saga forum you will see Disco has just exposed himself as diggerdog1, (page 3580 of 3608) I rest my case!