Provident Financial (PFG)

Sector:

Financials

Index:

FTSE 250

165.20p
   
  • Change Today:
    -6.20p
  • 52 Week High: 491.50p
  • 52 Week Low: 144.20p
  • Currency: UK Pounds
  • Shares Issued: 253.62m
  • Volume: 458,964
  • Market Cap: £418.97m
  • RiskGrade: 394

Provident Financial volumes fall 20% as lending rules tighten

By Frank Prenesti

Date: Wednesday 27 May 2020

LONDON (ShareCast) - (Sharecast News) - Doorstep lender Provident Financial said new business volumes fell 20% in the four months to April 30 as it tightened lending rules in response to the Covid-19 pandemic.
The company, which provides loans for people refused credit by mainstream banks, said there had been a slight recovery in May. Provident said it was in a strong liquidity position, with regulatory capital of £710m equating to a common equity tier 1 ratio of 33.4%.

"Since the start of Covid-19, impairment has increased due to increased arrears and a prudent approach to the treatment of payment holidays, which are starting to stabilise," the company said on Wednesday.

Loans to existing consumer credit division customers were running currently at 30% of expected volumes. Lending to new customers was paused following the government lockdown as were repayment collection visits.

"New customer lending in Home Credit UK restarted in mid-May with a cautious approach including tighter credit decisioning and an adapted model for Covid-19," the company said.

Provident said all home credit collections were now being carried out remotely, tracking at more than 80% of pre-coronavirus expectations.

New customer bookings at credit card business Vanquis Bank fell by 75% due to tighter lending rules and a pause in its credit line increase programme.



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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

PFG Market Data

Currency UK Pounds
Share Price 165.20p
Change Today -6.20p
% Change -3.62 %
52 Week High 491.50p
52 Week Low 144.20p
Volume 458,964
Shares Issued 253.62m
Market Cap £418.97m
RiskGrade 394

PFG Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
91.16% above the market average91.16% above the market average91.16% above the market average91.16% above the market average91.16% above the market average
89.31% above the sector average89.31% above the sector average89.31% above the sector average89.31% above the sector average89.31% above the sector average
Price Trend
88.3% below the market average88.3% below the market average88.3% below the market average88.3% below the market average88.3% below the market average
83.1% below the sector average83.1% below the sector average83.1% below the sector average83.1% below the sector average83.1% below the sector average
Income
69.20% above the market average69.20% above the market average69.20% above the market average69.20% above the market average69.20% above the market average
42.50% above the sector average42.50% above the sector average42.50% above the sector average42.50% above the sector average42.50% above the sector average
Growth
33.77% below the market average33.77% below the market average33.77% below the market average33.77% below the market average33.77% below the market average
50.85% below the sector average50.85% below the sector average50.85% below the sector average50.85% below the sector average50.85% below the sector average

What The Brokers Say

Strong Buy 8
Buy 0
Neutral 3
Sell 0
Strong Sell 0
Total 11
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

PFG Dividends

  Latest Previous
  Interim Final
Ex-Div 15-Aug-19 23-May-19
Paid 26-Sep-19 21-Jun-19
Amount 9.00p 10.00p

Trades for 14-Jul-2020

Time Volume / Share Price
14:33 224 @ 165.20p
14:15 85 @ 164.80p
14:15 95 @ 164.80p
14:15 408 @ 164.80p
14:15 92 @ 164.80p

PFG Key Personnel

Chair Patrick J R Snowball

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