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Pillar 3 regulatory capital disclosures

This document presents the consolidated Provident Financial plc Pillar 3 disclosures on capital and risk management at 31 December 2017 in accordance with the requirements of the Capital Requirements Directive and Regulation (CRD) IV.

This document should be read in conjunction with the Provident Financial plc Annual Report and Financial Statements 2017.

The group comprises three principal trading divisions:

  • Vanquis Bank, which provides credit cards to the non-standard UK consumer credit market and accepts retail deposits;
  • Consumer Credit Division (CCD), which provides home credit and online lending to the non-standard UK consumer credit market; and 
  • Moneybarn, which is the UK’s largest provider of non-standard vehicle finance in the UK.

Vanquis Bank is authorised by the Prudential Regulation Authority (PRA) and regulated by the PRA and the Financial Conduct Authority (FCA). The PRA sets requirements for Vanquis Bank relating to capital and liquidity adequacy and large exposures.

The group, incorporating Vanquis Bank, CCD and Moneybarn, is the subject of consolidated supervision by the PRA by virtue of Provident Financial plc being the parent company of Vanquis Bank. The PRA sets requirements for the consolidated group in respect of capital and liquidity adequacy and large exposures.

The FCA regulation of the consumer credit industry commenced on 1 April 2014. Moneybarn received FCA authorisation in June 2016. CCD continues to operate under an interim permission awaiting full authorisation.

The group’s disclosures for 2017 are now available via the following link: Pillar 3 disclosures – 31 December 2017