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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  The Royal Bank of Scotland Group plc    RBS   GB00B7T77214

THE ROYAL BANK OF SCOTLAND GROUP PLC

(RBS)
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Delayed Quote. Delayed London Stock Exchange - 01/27 11:38:03 am
218.3 GBp   -2.28%
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Royal Bank of Scotland : Provident says credit card unit's performance slightly above expectations

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01/15/2020 | 02:56am EST

Subprime lender Provident Financial said on Wednesday its credit card business Vanquis Bank, which has been a driver of profit, performed modestly above expectations in the fourth quarter, partly due to tight cost control.

The company, which provides credit to people who do not meet the lending criteria of mainstream banks, has been growing its customer numbers since fending off smaller rival Non-Standard Finance's takeover bid last year. NSF, on the other hand, has struggled with costs relating to the failed attempt.

London-listed Provident said its consumer credit division (CCD) also delivered results in line with its plans, helping it forecast 2019 that matched market expectations.

CCD, the company's home credits business, suffered a botched reorganisation in 2017 that had led to the departure of its chief executive officer and forced a profit warning.

Provident said its car and van financing arm, Moneybarn, failed to match its internal targets due to higher impairment charges.

The lender added that Royal Bank of Scotland's investment bank, NatWest Markets, had agreed to provide Moneybarn with $100 million in initial funding that is expected to grow to 275 million pounds over the next 18 months.

(Reporting by Muvija M in Bengaluru; Editing by Shailesh Kuber)

Stocks mentioned in the article
ChangeLast1st jan.
PROVIDENT FINANCIAL PLC -2.14% 457 Delayed Quote.-0.02%
THE ROYAL BANK OF SCOTLAND GROUP PLC -2.28% 218.3 Delayed Quote.-9.24%
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Financials (GBP)
Sales 2019 12 538 M
EBIT 2019 5 147 M
Net income 2019 2 690 M
Debt 2019 -
Yield 2019 10,7%
P/E ratio 2019 9,31x
P/E ratio 2020 9,88x
Capi. / Sales2019 2,10x
Capi. / Sales2020 2,15x
Capitalization 26 340 M
Chart THE ROYAL BANK OF SCOTLAND GROUP PLC
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Technical analysis trends THE ROYAL BANK OF SCOTLAND
Short TermMid-TermLong Term
TrendsBearishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 22
Average target price 254,49  GBp
Last Close Price 218,10  GBp
Spread / Highest target 87,1%
Spread / Average Target 16,7%
Spread / Lowest Target -3,71%
EPS Revisions
Managers
NameTitle
Alison Marie Rose-Slade Chief Executive Officer
Howard John Davies Chairman
Mark Bailie Chief Operating Officer
Katie Murray Chief Financial Officer & Executive Director
Brendan R. Nelson Independent Non-Executive Director
Sector and Competitors