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Provident Financial Shares Plunged 74%, £1.8 Billion Value Lost Overnight

Provident Financial Shares Plunged 74%, £1.8 Billion Value Lost Overnight

Provident Financial Group shares fell 74% or £1.8 Billion overnight as the company issued profit warning alongside the immediate resignation of their CEO, Peter Crook.  It is also being investigated by the Financial Conduct Authority into the sale of a product that allowed people to freeze their credit card debt.

” Provident Financial Group shares plunged 74%, £1.8 Billion Lost Overnight “

Established in 1880, the group provides non-standard lending to customers.   The group is based in UK, is a component of the FTSE 100 listed on the London Stock Exchange.

Source: Daily Mail, BBC, Provident Financial Group

 

About Provident Financial Group

Established in 1880, PFG is one of the UK’s leading suppliers of personal credit products to the non-standard lending market. We are a FTSE 100 company listed on the London Stock Exchange, with 3,712 employees serving 2.5 million customers. Through our network of branches, call-centres and websites, we provide a portfolio of products designed to meet the particular needs of those who want credit products. The group delivers non-standard lending through our businesses – Vanquis Bank, Provident home credit, Satsuma Loans and Moneybarn.

Visit: www.providentfinancial.com

 


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