Provident Financial Share Discussion Threads

[discodave45] 12/7/2020 12:35

Oops, my apologies cut, I misread your earlier post regarding world bank, you actually posted word bank......speed reading!.

[discodave45] 12/7/2020 12:29

The same Q1 paragraph also continued to state:'Since the Covid-19 restrictions were introduced, all home credit collections have migrated to remote methods'Conveniently missed off from your post!, obvious why too.Won't bother debating again as you post false and misleading info.

[discodave45] 12/7/2020 12:22

Whatever.Post 3466I'm apologising to everyone regarding the statement that 75% of doorstep customers do not have a bank account. It's all to do with the word bank.

[1cutandrun] 12/7/2020 12:19

Disco. Q1 trading update announcement dated 27th May 2020. CCD home credit, 6th paragraph. Also, I didn't say world bank.

[discodave45] 12/7/2020 01:51

CutHaven't a clue what your post means, or where the data has come from, can you post a link or at least reference the source otherwise it's just more bull as far as I'm concerned.Anyway, I'm bored now with this, in excess of 80% of Provident credit customers have bank accounts not the 25% you kept posting, it's got nothing to do with the world bank (hence the "pmsl") or a spurious one-off guess somewhere by someone of 20%, just accept it and move on please.

[1cutandrun] 12/7/2020 00:09

Disco. I've found it. I've already apologised for my bank mistake. I wouldn't PMSL too much, not after you read this. Prior to Covid-19, approximately
25% of collections in the UK and 5% in the ROI were made via card payments or other remote methods. So over 80% of doorstep customers have bank accounts, yet only 25% UK and a miserly 5% ROI, of collections pay by card. How do you explain that.

[jeannettetigger] 11/7/2020 12:02

Disco, you have posted June 11th you bought PFG shares then (price 195+/-) will you be averaging down?. Only I was contemplating buying and was seeking advice.

[1cutandrun] 11/7/2020 00:43

Disco. It states on their web page that reps are not calling and you know it. Why did I buy shares you ask. I spread my risk. I'm in at 1.68 average. I drip invest and if they go down after the Q2 results and keep going down, I will keep buying. By doing that the average purchase price will reduce. So when the shares go up above the average price you're in profit. The more shares at the lesser price the more profit. Speculate to accumulate. Simple.

[1cutandrun] 10/7/2020 23:46

Copied and pasted. 1 Post Office card account is a simple bank account which will allow you to collect your Pension, Benefit or Tax Credit payments. Your payments will be paid directly into your account. A. 2 To get money out of your account, simply take your card to a Post Office branch or Post Office branded ATM. That is why, as stated by Disco, the company can claim 80% and more have bank accounts.

[1cutandrun] 10/7/2020 23:41

I'm apologising to everyone regarding the statement that 75% of doorstep customers do not have a bank account. It's all to do with the word bank. As an example, lets take 100 doorstep customers who do not have a current or fee free account. All these customers are claiming benefits and using the Post office card. Being on that system means they all have bank accounts. But not one can use it to pay their Provident with it.

[discodave45] 10/7/2020 20:56

Who are you?

[nortic 007] 10/7/2020 20:30

Give it a rest fella !!

[jeannettetigger] 10/7/2020 19:15

Disco I have heard recently that a lawyer sent an email to a certain poster on CNA. He has since stop posting. I think his username began with a D....

[discodave45] 10/7/2020 19:00

If this is going to drop on Q2 then why did you buy?.Not being rude but your incessant negativity and false info is getting a tad boring now, have you heard of the FCA rules for posting misleading and inaccurate information on bulletin boards.Thanks for the heads up though, must sell up first thing Monday because reps aren't calling, apparently.......just like 25% of customers don't have bank accounts.

[1cutandrun] 10/7/2020 18:16

Superior, That's my thoughts entirely. I still have some money to invest but holding back until Q2 results. I Think the price will go down, but who knows what the cities expectation is. I just hope they have estimated right, but if they haven't the price will drop even further. The company must get the reps back calling which would improve things, but the longer they don't the situation is going to get progressively worse, as they will have the added problem of customers losing their jobs. You already know all this Superior. I've mentioned this for the rest to know. Regards.

[superiorshares] 10/7/2020 08:02

Icutandrun.

My friend . I agree with you that a good long term investment is the case.
Just we are at different levels of a buy in.

Regards

[superiorshares] 10/7/2020 08:00

disco .
You do not have a clue about people.
This modernisation improves the customers experience by freeing up their time :-). Hilarious. What are they going to do with all this extra time ?.. Bear in mind a great deal of the customers are on one form of dole or another. ie Benefits/disability/esa.
They have 23 hours and 59 minutes a day free now .

You will lose a few quid here and you fully deserve it :-)

[discodave45] 10/7/2020 07:38

Cut'To keep you happy, lets say 80 odd percent is the figure'It is the figure they state in their AR, it's factual data not random figures plucked out of thin air to suit someone's agenda!.If you can locate whereabouts on their website that it states virtually the opposite, as you've posted numerous times, then perhaps it's worthwhile flagging it to Hamish!.

[1cutandrun] 10/7/2020 00:26

Disco. It took me ages to find it last time. I have better things to do. To keep you happy, lets say 80 odd percent is the figure. That is fantastic news. That means although the reps are not calling, these home credit customers can still pay and have new loans. So no worries then. Q2 report isn't going to be as bad as anticipated. I hope you're right.

[jeannettetigger] 09/7/2020 21:58

Disco it doesn't matter how much you defend your investment, the share price speaks for itself. Brace yourself for further disappointments.

[discodave45] 09/7/2020 21:20

Also:Home credit traditionally has been based upon cash being lent and repaid on the doorstep. This model is clearly still appropriate for some customers, although others want and need a different service: a service with flexibility over how they apply, how they receive the loan and how they make repayments. In response, management has developed Provident Direct, a hybrid product which is originated in the home, but the collection is digital through CPA. This modernisation improves the customers' experience by freeing up their time, by no longer requiring routine collection visits, and by removing the necessity of cash by enabling the loan to be repaid online through a bank account. The hybrid product was successfully tested in 2019, and will be rolled out to all customers in the UK in 2020, where there is demand. In 2020, home credit will also roll out electronic card readers, which will enable customers who choose to pay via a collections visit, to have the choice to repay electronically or by using cash. Satsuma, our digital loans platform, will also launch a pilot of a personal loan product with APRs of less than 100% towards the end of 2020. This should enable customer progression to cheaper credit by creating a pathway from one Provident credit product to another.