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Investing.com -- Shares in Vanquis Banking Group PLC (LON:VANQ) rose 9.9% in early Thursday trading after the lender reported a return to profitability in the first half of 2025.
The company delivered two consecutive quarters of profit, posting statutory pre-tax earnings of £6.2 million for the six months to June 30.
This marks a significant improvement from the £46.1 million loss recorded in the same period last year.
The statutory return on tangible equity improved to 3.1%, while gross customer interest-earning balances grew 7% to £2.46 billion.
Chief executive Ian McLaughlin said the bank is "firmly on track" with its transformation plans, pointing to robust credit quality, tight cost discipline, and progress on its technology programme called Gateway.
The company’s statutory cost-income ratio improved to 62.5%, helped by £15 million in transformation savings and a 36% reduction in complaint costs.
Vanquis noted it did not participate in discretionary commission arrangements linked to the recent Supreme Court ruling on motor finance. The company stated its commission disclosures were stronger than those found to be unfair in the Johnson case.
The banking group maintains a strong liquidity position with a coverage ratio of 366% and a Tier 1 capital ratio of 18.5%.
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