Our strategy

We aim to consistently grow our earnings and create attractive returns on the money we invest.


The group has four key strategic objectives which are measured through a number of key performance indicators (KPIs), both financial and non-financial.

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1 . Growing high-return businesses in non-standard markets

Apply exacting standards in allocating capital to organic and acquisition opportunities to invest in businesses that:

  • Generate high returns in order to provide high returns to shareholders. High returns are available in the non-standard market to those companies with the right business model which focuses on delivering the best possible customer outcomes.
  • Are sustainable and maintain high levels of regulatory compliance at all times.
  • Have good growth potential to deliver future earnings and dividends growth.
  • Enjoy a strong market position, preferably a top-3 market position in each segment of the non-standard market in order to develop the market in a responsible manner.
  • Have good management and cultural fit.

2. Generating high shareholder returns

  • Generate sustainable growth in profits and dividends to deliver increasing shareholder returns; and
  • Maintain a dividend cover of at least 1.25 times.

3. Maintaining a secure funding and capital structure

  • Maintain borrowing facilities which, together with Vanquis Bank’s retail deposits programme, meet contractual maturities and fund growth over at least the next 12 months;
  • Maintain a maximum gearing ratio of 3.5 times to ensure alignment with the minimum dividend cover target of 1.25 times and the group’s growth plans, whilst maintaining a comfortable surplus of regulatory capital over the capital requirements set by the Prudential Regulation Authority (PRA); and
  • Continue to diversify the group’s sources of funding.

4. Acting responsibly and with integrity in all we do

  • Operating our core business of lending to our customers in a responsible and sustainable manner, putting their needs at the heart of everything we do;
  • Acting responsibly and sustainably in all our stakeholder relationships in order to:
    • Create a working environment that is safe, inclusive and meritocratic;
    • Treat our suppliers fairly; and
    • Support our communities;

Our KPIs are helpful in assessing progress but are not exhaustive as management also takes account of a wide range of other measures in assessing performance.