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Risks

The group has a rigorous risk management framework. This is designed to identify the risks that could adversely impact the delivery of the group's strategic aims and to ensure that adequate controls and procedures are in place to mitigate the risks. The group's risks, together with the controls and procedures in place to mitigate the risks, are as follows:

Definition

The risk arising from the lack of diversification in the group’s business either geographical, demographic or by product.

Controls and procedures

  • The group’s customer base of over two million is well dispersed across the UK and Ireland.
  • New product development continues to be undertaken outside the core home credit business.