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Eleventh Provident Financial Corporate Responsibility report published

Provident has recently published its 2011 corporate responsibility (CR) report. This is Provident's eleventh such report and sets out the progress made by the company’s CR programme in terms of managing the social, environmental and economic issues that are relevant to its business activities and key stakeholders.

The 2011 report shows that by demonstrating to its stakeholders that Provident is a responsible, well-managed business it can differentiate itself from the other companies in the non-standard lending market and in financial services generally. This transparency has enabled Provident to maintain its presence on the leading global sustainability indices which contribute to making its shares attractive to prospective institutional investors and asset managers, and delivers long-term value to shareholders, as well as providing its subsidiary businesses with cost savings, and reputational and workplace-based benefits.

The report also provides an overview of the impressive progress that Provident's Good Neighbour programme has made in the many communities the company serves. This has seen the number of three-year community projects throughout the UK and Ireland that are supported by Provident increase from 22 to 34, which has enabled over 43,000 people from a wide range of communities to receive support to address issues such unemployment, low levels of educational attainment, health and well-being.

Peter Crook, Chief Executive of Provident Financial, commented:

"CR is a hugely important part of how we do things at Provident. It is not only part and parcel of the group’s mission and values 0but is also explicitly referenced in one of our four strategic aims. As such, it guides how we treat our customers, employees and other stakeholders, as well as committing us to take account of and report on our wider environmental and societal impacts. By ensuring that we continue to operate in a way that delivers against our strategic aims, which in turn enables us to work towards achieving our mission, Provident can continue to be a successful, responsible and sustainable business."