BRADFORD-based lender Provident Financial has said it expects to post annual results in line with market expectations.
The company announced that its Vanquis Bank division had delivered a better performance than expected, yet Moneybarn had performed below expectation.
In addition the firm’s CCD division finished the year well.
As a result the leading provider of credit products to consumers not well-served by mainstream lenders, expects to report profits for 2019 as a whole in line with market expectations.
This represents a mean consensus group profit of £162 million, with a range of £155m to £166m.
Malcolm Le May, chief executive officer, said: “I am very pleased that the group has continued to perform well in the final quarter and we expect to report full-year results in line with market expectations.”
The company also said it had agreed a bilateral securitisation facility to fund Moneybarn’s business flows, further diversifying its funding sources and reducing the group’s funding costs.
Mr Le May added: “We are well placed entering 2020 to continue to meet our customers’ needs and deliver against the targets set out at our Capital Markets Day in November.”