Provident Financial profit boosted by Vanquis growth

Tue Feb 26, 2013 3:45am EST

Related Topics

* Provident lifts customer growth target at Vanquis

* Vanquis offers credit cards to customers with poor credit history

By Matt Scuffham

LONDON, Feb 26 (Reuters) - British sub-prime lender Provident Financial reported a 12 percent rise in full-year profit, boosted by strong growth at Vanquis Bank which provides credit cards to those turned down by mainstream banks.

The company, which targets the estimated 10 million people in Britain who are likely to be refused credit by the biggest mainstream lenders, also said it was increasing its medium term customer growth target for Vanquis in the UK.

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