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Even have an AI angle. This Snoop app sounds like manna. This Gateway platform and also the link to the Pharmacies and Pawnbrokers seems to be a low risk method of helping a certain customer that most banks ignore.
Looking forward to seeing the new offers due to be added, the 90 and 120 day offering and an ISA offering. Perfect timing.
Full bull mode not for me here - DYOR & GLA.
They are setting out clearly - the blueprint on how to run a growing dynamic business. I've worked for many firms and know the difference, this will be a very strong business and have a great team. Getting to grips with the basics with deep understanding, experience, commercial acumen with excellent motivation management. I'm In more today. GLA
Jillian Armstong, do I detect another NI accent? From Enniskillen, Co Fermanagh.
I wonder how an improvement in ROTE translates to an improvement in profitability ?
Great start. This is a brilliant growth story. No liquidity issues.
Legal proceedings issued to the one rogue claim company. Seems Ian is the saviour here and the kitchen sink has been thrown out and replaced.
Cost control was unacceptable and will be managed going forward. Great progress being made.
Seems he is bringing the Bank of Ireland ideas to Vanquis. I am finding the webinar exhilarating.
Re Snoop
A key enable and a differentiator. Successfully intergated now and Snoop bringing benefits already. Liking the "Not yet" rather than "No" proposition.
Very competent. A caring bank helping those in need.
Banking with Heart
He's an impressive speaker and so far I'm seeing a lot of competence, planning and passion.
No FCA investigation against Vanquis car finance business. Good news!
The beguiling music has started again. The main man is Ian..... No surrender.
Maybe this will help us too
https://www.lse.co.uk/news/bank-of-england-steps-up-scrutiny-of-private-equity-and-bank-valuations-1dyh6ohyknsw7y5.html?utm_source=alerts&utm_medium=email&utm_campaign=2024-03-27&utm_term=news
Hi just saw somebody on another forum saying Martin Lewis had been pulled up on saying they might. I can’t find any ref either so looks like we’re in the clear
A few secs faster hxu. lol
Strategy Seminar for 3 hours... appreciate the BOD making the efforts for shareholders to understand the detailed plans in place to turnaround the company. Keep up the good job.
Thank you both!
@Muck165
Strategy Webinar link: https://stream.brrmedia.co.uk/broadcast/65cb76963542db7be03f8688
Strategy Seminar: Wednesday, 14:00 to 17:00 - https://brrmedia.news/VANQ_SS
Please forgive me, but I can't find out how to watch the seminar this afternoon. I am assuming there is a registration link somewhere - could anyone help?
@XXXAcountant- where is ur source? I didn't find any pointing at Vanquis Bank. Ian and Dave was very clear at the webinar today saying they are not involved in FCA investigation as they don't do commission model for motor finance.
For those long term holders on here, have I got it right, that Martin Lewis said we were one of the companies in firing line for miss selling finance but actually we are not?
Easy solution - any claim brought by a CMC to FOS that they lose, make them pay the admin fee. At the moment they do little work apart from put together some generic standard paras and market themselves to public on the promise of "what have I got to lose". Putting that at risk for spurious claims would reduce the number!
Compound - many thanks - I think those unquantifiable claim costs are what is holding the sp back. Lets hope the legal action works.
Taverham, they said they are taking legal action against the one CMC company which accounts for around 80% of all the spurious claims. Regarding timeline, it depends on the courts which could take as long as it needs.
Was anything said about the legal action which is aimed at reducing spurious claims?
Expecting a gradual and steady to 100p in the next few months.
1 months ago 120p
12 months ago we were 230p.
5 years ago 500p
10 years ago 2500p (Neil Woodford days)
Market cap at 130milion gives the share price a significant room and space to grow when we see some substance from the management team
I am hoping we finally see a truly incredible boards to implement a feasible turnaround strategy. This has legs for sure.
I don’t see why we wouldn’t recover quite quickly to £1, assuming profits of c£50-£60m.
If returns in the teens by 2026, profitability will recover to well above £100m pa. That’s potentially a 7 fold increase in share price.
Not many rumours about a private equity takeover but can see one coming imminently
Baysils right.. Plenty of LIQUIDITY is key. Retail deposits from 2022 £1.1bn to 1.9bn in 2023 is pretty significant increase of 73%. Careful management of NIM will see nice dividends going forward. I also suspect they are understating things to get the bad news out of the way.