Vanquis Banking Group PLC (VANQ) · 2026-10-29
3rd Quarter Trading Statement
Vanquis Banking Group cut its balance-growth and profitability outlook after higher Credit Card charge-offs and IFRS 9 provisions produced a small third-quarter loss. It now expects gross customer interest-earning balances of about £3.3bn at end-2026 and £3.4bn at end-2027, versus previous targets above £3.3bn and £3.7bn respectively, while 2026 statutory ROTE is now expected to be negligible rather than low single-digit.