Vanquis Banking Share Discussion Threads

[pugugly] 16/7/2024 07:06

14% hit - Will have to see where closes.

[smithie6] 16/7/2024 06:50

...the contents of the RNS does not reflect well on the management competency.

'oops, our last audited results were not correct, we now update them'

!!

[peterrr3] 16/7/2024 06:29

Not good at all. I was expecting a further write down of the credit cards but not the vehicle finance. Should have taken the hit last year then the share price wouldn't get trashed again like it will now.

[pugugly] 16/7/2024 06:25

Not a happy picture this morning - However "kitchen sinked" so hopefully all the garbage has been identified.
Also "Today's announcement, Vanquis does not expect to meet its FY24 guidance of low single digit ROTE" could lead to initial MM mark down.

Would have liked far more detail on progress here " Complaint costs remain within previously guided levels and industry-wide initiatives to act against spurious complaints continue". Reading between the lines still a potential unexploded bomb (imo) and unquantified or maybe unquantifiable.

[sbb1x] 16/7/2024 06:23

Outlook Following today's announcement, Vanquis does not expect to meet its FY24 guidance of low single digit ROTE. While the Group will remain well above its regulatory capital requirement, it expects to end the year below the target Tier 1 ratio range of 19.5% - 20.5% set by the Board on 27 March, notwithstanding any capital optimisation initiatives such as AT1 issuance.

[123trev] 15/7/2024 10:01

Always a possibility at this price.

[diku] 15/7/2024 09:44

Can it get taken over?...maybe by another smaller bank or building society?...

[123trev] 15/7/2024 09:42

I’m hoping a lot lot higher lol.

[diku] 15/7/2024 09:21

Would that be higher higher for a Brucie bonus...

[123trev] 15/7/2024 08:27

Starting to move in the right direction.

[123trev] 14/7/2024 07:59

Results due soon so that may give an indication as to how the new management are doing turning the ship around they have been offering some of the top rates on savings but a key driver will be the handling of this claims company that saw shares tank with associated costs expected to hit profits. Quiet on the subject since legal proceedings were undertaken!

[diku] 10/7/2024 12:10

All these broker targets are valid for that particular moment in time with all the info available ...too many variables at any given time subject to change...be it company specific or geo political...

[123trev] 10/7/2024 10:07

You have to take such targets with a pinch of salt I’m afraid there based on lots of things going the right way and are a guess at what a possible future company could be worth and the track record of this particular company isn’t exactly Stella that being said I’m invested for that possibility.

[davius] 10/7/2024 09:52

I thought we'd see a recovery by now but it seems to be pretty much glued to a range around the 50p level. I took a look at the last broker rating I could find, which was

Deutsche Bank cuts Vanquis Banking target to 85 (88) pence - 'buy'

but no sign of getting anywhere near that figure. I have an average of 51.9p so almost at breakeven.

[diku] 10/7/2024 08:25

Can it finally break 50p and stay above it?...

[sbb1x] 09/7/2024 15:36

Terrible close @48.60

[123trev] 09/7/2024 08:04

Like a bowling ball it is.

[smackeraim] 05/7/2024 08:22

Bouncing from support line here

[123trev] 03/7/2024 06:10

All notified short positions closed!

[123trev] 02/7/2024 11:14

Maybe who knows how things are going the only positive is the large institutional holding obviously not a guarantee but with the cash position here it gives some hope. The only problem I have with this cost of living crisis is where? Everything that I see says the opposite new builds selling straight away supermarkets packed restaurants packed pubs busy holiday bookings up obviously some people are struggling but they still seem to manage! The only problem I see and it’s a big one people who are really ill and incapacitated seem to be ignored and that’s an issue.

[blackhorse23] 02/7/2024 10:07

Dropping every day, I suspect default payments are rising due to cost of living crisis

[sbb1x] 02/7/2024 09:50

Could this be mid 60s start of august after update.

[123trev] 02/7/2024 09:25

The way this has dropped and the continued manipulation it’s either going to make a big move up or a big move down but it’s honestly like watching paint dry but then maybe that’s the idea.

[sbb1x] 02/7/2024 08:21

Bargain down here.