Meeting the need for credit in the real world

Credit may have got harder to access since the financial crisis, but most people are still able to pull out a card or get funds from their bank. For the majority, borrowing is about convenience. They are paying for a holiday, buying a new car, getting life’s little luxuries without dipping into savings. But for over 10 million people in the UK, the market we serve, access to credit is more important.

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Our Marketplace

A specialist market

At the end of 2010, total personal debt balances in the UK stood at £1.5 trillion, of which just over £1.2 trillion was secured by mortgages and £214 billion was unsecured consumer credit. The mainstream market, limited to low-risk borrowers, accounts for over 80% of consumer credit balances. Provident competes in the non-standard market. Collectively, the 10 million-plus people in this market borrow around £65 billion annually.

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Our Products

Our Products

At Provident we have been lending responsibly in the non-standard market ever since our foundation in 1880. Our values inform our approach. We believe personal relationships are vital. In Home Credit, where we are the UK market leader, agents meet up with our 1.9 million customers weekly. Vanquis Bank stays in touch with its customers over the phone and through newer innovations such as SMS text messaging.

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Business Review and Management Report

Business review and management report

For most of 2010, people on lower incomes were quite rightly anxious about the sustainability of their household incomes as well as the threat from cuts in Government spending. Given this difficult context, it is satisfying to be able to report on another year of progress. We have grown customer numbers*, increased profits* and managed risk. We have done all that by listening carefully to our customers* and lending responsibly.

Read Chief Executive's review

Financial highlights
for the year ended 31 December 2010:


The group focuses on lending responsibly to non-standard consumers.

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Annual Report 2010 in full