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I can never understand why people prefer to trade stocks on technicals and moving averages rather than fundamentals. But then again my portfolio never did perform well when I only invested purely on fundamentals :D

Article says it could be implemented as soon as September

Https://www.bbc.co.uk/news/uk-wales-68940178

"There are more loan sharks than ever under investigation, according to the agency Stop Loan Sharks Wales"

Gosh I wonder why? Maybe if you regulate the legit industry out of business then the sharks start circling.

Will there be any connections made between the FCA overregulation and increase in loan sharks? Expecting a bit too much common sense from leftie journos who would rather not admit that high interest lending is both moral and a tool for good.

I imagine it will be some kind of shell company and it will be rather hard to get any money back if indeed they are found to be guilty.

It always amuses me seeing a short posting on a board. Unless a company is indeed fraudulent or absurdly overvalued then it tends to go up over time :D So only way for a short to make money is fearmongering and panic selling. Absolutely we need shorts in the market to prevent frauds, but the good shorts don't share all their best ideas. Let the financial statements do the talking, with KWS your betting against a well-run diversified and shrewd operator at the bottom of the gaming cycle. Please short as much as you want, just don't feel too comfortable on results day!

"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.

Just a thought, wouldn't it now be in the best interest of shareholders for management to put the loan book and retail deposits into freefall and hold both to maturity, which is average 2 years for both loans and deposits. After that return all capital to shareholders. With the ECL provisions already taken it seems like the tangible equity would be a good proxy for remaining funds of around £400 M , therefore a return of £1.50 + to shareholders in 2-3 years. Its not much for LTH but around 3x current SP. I understand not rly in management interests to be out of a job, but could shareholders feasibly do this at AGM vote?

Interesting development considering encouraging outlook after FY results, I'm wondering if given the trajectory predicted by the CFO the debt problem is now not as big an issue and shorters might get burnt

Seems the sp bottoming and shorts taking the profits

Anyone here know why Vanquis distributes credit cards via thimbl brand? Didn't know about this until reading annual report, is it a material amount of the companies reach in the credit card space?

This would be comedic if it wasn't for the sp collapse

"Mr R complains that Vanquis Bank Limited continued to send him paper statements after he

had requested to receive statements online only. He says this has caused him a great deal

of stress."

Wanted £500 compensation, unbelievable, says it all, system is broken

Interesting how several times he looked like he wanted to lambast previous management but just said poor past decisions. It is amusing to see how much more professional this webinar was and all the extra detail in the attached presentation was v-interesting. Impressed with the CEO as other's have said but am most happy with the new CFO and his exemplar tone about prudence and not giving speculative forecasts. IMO management seems very realistic now, no fantasies as regards to the challenges the business faces, have added :)

Am long, but it would be foolish to forget that bad results tomorrow could tank the SP back to 40p levels

Lul 10% swing on such little volume

At least we're earning £20 M interest a year (at current rates) from our BoE deposit :)

Poor Vanquis, classic example of over-regulation destroying competition ensuring the incumbent banks are the only ones who can afford to survive in the post GFC world

Once they fix the issues then EPS will recover, earnings in the next 2 years will not be great but IMO VANQ will come out much stronger from this as the business is also being reorganised under the CEO. He's made it clear that he will be prioritising profit over growth

Yeah it was illuminating on many internal DEC processes. The company ethos and the commitment to safely retiring wells as well as looking after employees. Some may say it was usual corporate "everything is amazing" speech but the guy seemed pretty genuine and impressed by his explanation of how the company used the ABS structures.

Lol yeah shorters are def important to expose frauds, also pretty brave being a shorter you can lose infinite amount :D

IDK cobalt looks to be in a pretty long bear market, coal assets gone and nickel oversupply may pause start of other mines. Pretty fairly price IMO, what if management had just dividend out the coal profits.Agency problem...