Vanquis Banking Group plc (VANQ.L) reported Friday sharply wider pre-tax loss in fiscal 2024, hurt by charges and weak net interest income.
Further, the specialist bank said its Board of Directors has decided not to declare a dividend for 2024, compared to dividend of 6.0p per share last year, with the focus on deploying capital to support growth initiatives.
Looking ahead, the company projects gross customer interest earning balances of around 2.6 billion pounds for fiscal 2026 and around 3.0 billion for fiscal 2026.
In fiscal 2024, loss before tax was 136.3 million pounds, ompared to loss of 12.0 million pounds a year ago. The latest results included 71.2 million pounds of goodwill write-off related to Moneybarn.
Adjusted loss before tax was 34.8 million pounds, compared to prior year's profit of 17.3 million pounds. Adjusted basic loss per share were 9.7 pence, compared to prior year's profit of 4.5 pence.
Interest income grew 2 percent to 565.4 million pounds from prior year's 556.0 million pounds.
Net interest income dropped 5 percent to 420.0 million pounds from last year's 442.6 million pounds. Total income was 458.5 million pounds, down 6 percent from 488.8 million pounds a year ago, driven largely by higher cost of funds.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.