Member Info for Pooks

That’s debatable.. data coming through suggests it’s the middle market that’s most under pressure.

What’s interesting is both major banks have doubled debt provision, Vanquish quadrupled. Somebody’s going to be wrong…

Interestingly both Lloyd’s and Barclays have more than doubled there bad debt provision for the second half of this year including domestic and business loans. Again like Vanquish it’s baked into the full years potential profit. They are not alone.

Cookie .., think you’re correct. I hate to say this but the old guard at Provident were jobs for life boys with No business skills whatsoever.. I know 3 ex directors lived close by me they would never be employed in in a private company… thick or thick. But hey ho this is now a bank and given the right commercial leadership should in time do well. I suspect all the current changes are being driven by the major shareholders, they will not put up with that past freeloaders . Ok I appreciate it’s been a massive change in direction and with that there will it’s ups and downs but personally I think we have the right man at the top , from past form he will not suffer fools . Most successful CEO ‘s bring people they’ve worked with in the past … just watch this space…. Personally just can’t believe the total idiots that have survived in this company …let’s all hope the new CEO can give direction.

Pon105 I think we all agree with you ..be patient the new CEO has been in the job one week it will take time to find a new CFO of the caliber the position requires.. this only a temporary measure.

Agree

Theborn … I couldn’t agree more, something was dreadfully wrong in the reporting of the half year results. You can only draw one conclusion that the past reporting was not transparent to say the very least. In business terms one would spread the downside risk across the duration of the average loan period not bundle it into a half year results period.

My view might be a bit simplistic but from my perspective I don’t see it any other way , and up to date nobody has offered a coherent explanation, except the CFO has gone, which in my book says it all.

Sorry Mary.. can’t really agree…

CFO SACKED ?????

Provi Van . Thank You, that is a very logical and comprehensive explanation.

MaryBR 190 … you have a certain confidence in your messages , I just wonder !! Either that you’re very mischievous.

Again today two big buys at 4.35 totaling Half a Million plus….mmmm just what cooking !!

Call it sixth sense but I’ve felt something is going on since the half the half year results

Question … why did they bundle all losses including potential future losses in the first half knowing the SP would crash ?? Why didn’t they spread it across a full years trade . We’ve all heard of the practice Kitchen Sinking but that normally happens on the arrival of a new CEO not the leaving present of the old one ,, very odd indeed.

Hi Provi … yep that just about sums it up except it’s probably the office junior recently promoted from tea boy. Just need to look back over history to see how inaccurate they ALL are .

Potty Time …, lovely part of the world

PottyTime… Mushy Peas , must be from up north. 👍

ProviVan .. do we actually know how much sub prime debt is still on the books… I seem to remember much was written off .

Ubik- Fresh sorry to correct you , they are Not dealing in sub prime anymore. The whole point of the last 2/3 years was to get out of subprime ( which cost them a small fortune) and totally change the business model… the old door step lending days are long gone.

Theborn. That just about sums it up .

I have a vision in my head of MLM on a beach right now saying to his other half… “ I told you the SP would tank when I left “ wife “ they will miss you darling “

Love the sense of humor… one day if we all get out of this on the upside it’s round to my gaff ..