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About time - should cease and desist at last
Anyone has full access to this article?
https://www.law360.com/financial-services-uk/articles/1823267/vanquis-bank-seeks-4-5m-for-law-firm-s-complaints-deluge
Weak US jobs figures could mean possible rate cuts coming. All FTSE stocks spiked massively.
Any particular reason for this sudden spike? Or is it another false alarm.. hope not. GLA>
Expecting this to peak well past the 56 it reached on last spike
GL all. Buying the dips.
Moniman .. What’s the point of regurgitating results from a month ago most on this site know exactly the situation… your just late coming to the party..
Moniman you still at it putting this share down. Please get a life you sad little man and let people deal with there purchases it hard enough on here than having a silly argumentative attitude man who thinks he knows everything.
I think this will hit 40p before it hits 60p. The bad vibes regards loans and losses doesn't give confidence. JMO Adyor
Moniman read my post from 12:17
So what's the good news, the results were a car crash imo, what's in the mix to push these any higher? JMO
Moniman Your point is ?? This is old news
I don't think so. I think the revenue has risen is encuoraging and hopefully they can address the cost by reducing the number of staff as they started already. The only problem is cost of complaints and impairments. If these can be reduced than we should be looking at quite a healthy profit in next years full results.
just my opinion
Not good reading at all, the chart looks frightening at these levels, do you think a discounted cash call on the cards to bolster reserves? JMO Adyor!!!
https://www.lse.co.uk/news/vanquis-banking-swings-to-annual-loss-on-higher-impairments-and-costs-9148hvw71gha4o5.html
Lancebombariar pretty much agree .. the whole historical journey has certainly given me an in-depth background too which otherwise would be hard to comprehend coming in fresh .
Agree totally and your position pretty well reflects mine and I suspect a large number of long term holders . In conviction terms ( always a perilous position ) I believe there is and should be a responsible provider of financial services to people who cannot access responsible credit facilities . The market is there and I believe our government has a responsibility to assist in this area . Credit is hard~wired into the worlds financial structure . VAN I believe can provide this and to be fair Provident in the old days could as well (with some reservations ) . The moral case is strong too in the sense that ethical credit challenges the cowboys and illegal money lenders who inhabit this space . VAN has a really good CEO and the staff in both Bradford and Newcastle are excellent . I honestly believe that long termers will be rewarded once all the spivs are ejected from this investment . Fingers crossed .
Franalex , i’am in exactly the same position as you and mentally have written off 100% of my original investment from many years back . Now I see this as an opportunity with a big potential upside if they can get it even half right. Looking back in the cold light of day the Government effectively wanted to close down the Sub Prime lending Market hence that led to the painful reality that Provident was pretty much down and out, the bit in the middle is irrelevant now.
No. Small part of my portfolio but 95.4% down. First, and at the time unexpected drop was massive shortly after I bought based on “financial expert” and press recommendations plus accounts that did not tell a full story. Thought it might rebound but didn’t and it has been followed by several other big drops. Took the view that once 50% down may as well hang in which was a mistake but no point bailing out now. Have followed this board for years and there are always individuals calling the bottom based on absolutely no financial logic.
Franalex why invest ( assuming you are ) it must be playing havoc with your well being .
Bad news and problems emerging out of the blue or of far greater magnitude than anticipated have been synonymous with this business for years and just when you think things can not possibly get worse; they do.
"could go under", of course anything can happen, but unless the auditors, management and accountants have all been lying or blissfully unaware the balance sheet is pretty rock solid now. It take a monumental increase in default rates to imperil Vanquis now, that or huge deposit flight risk. Both seem incredibly unlikely as Vanquis now has £750 M at BoE and Im sure BoE would lend against the secured loan portfolio if anything insane happened. Also very short duration book so no interest rate risk really. IMO they've just lost control of costs, if they deliver on the promise of going from 60% cost:income to 40% then easily see a rerate here, as thats potentially at least £50 M cost savings. Obviously near term catalyst is the resolution of the CMC problem, hopefully in the interim statement we can see more clarity about the cost impacts.
“All about delivering” . It has been for years, endless new strategies and just patently unable to turn it around. Could recover, could go under, could be acquired, anybody who thinks they know what will happen is foolish.
Franalex what’s the point harping on about the share use to be £35.
That business model is now defunct.. dead
Door step lending doesn’t exist., that’s how they turned in the profits.
This is in many ways a start up with baggage.
Even from there in house Brokers state .. they only expect the SP to rise once the Market has confidence that the business is profitable. So Now It’s All About Delivering.
Well, I have read again the reaults published end of march and they said in the second half of the year they turn it prom loss position yo profit of £30 mil. But they also mentioned the release of some money set aside. So hard to know wheather they are making money atm from operations. I guess thats why the SP is so low because untill investors see that the conpany is making money again this isn’t going up anytime soon.
On the basis this share has fallen from over £35 to just 48p, anything can happen. People have been predicting a bounce back all the way down. Just pure speculation now.