Professional
Added to YB: 2025-09-01
Pitch date: 2025-06-30
VANQ.L [neutral]
Vanquis Banking Group plc
+14.2%
current return
Author Info
No bio for this author
Company Info
Vanquis Banking Group plc engages in the provision of personal credit products to the non-standard lending market in the United Kingdom and the Republic of Ireland.
Market Cap
GBP 293.3M
Pitch Price
GBP 1.00
Price Target
3.02 (+171%)
Dividend
N/A
EV/EBITDA
N/A
P/E
-3.71
EV/Sales
N/A
Sector
Consumer Finance
Category
turnaround
Rockwood Strategic Portfolio Holding: Vanquis Banking Group plc
VANQ.L (holding update): UK subprime lender serving 20m 'financially stretched' customers. 1.7m customers, £2.3bn loans, 18.4% NIM. Lost £34.8m FY24 on £47m complaints costs (falling). New mgmt targets £60-80m cost cuts + mid-teens ROTE by '27. 0.5x P/B vs 1x+ target. >200% upside on turnaround execution. Risk: motor finance liabilities.
Read full article (1 min)