Earnings jump for Provident

City A.M. Reporter

PRIME lender Provident Financial lifted first half pre-tax profit by seven per cent after strong growth at credit card provider Vanquis Bank.

The firm, which targets the 10m people in Britain likely to be refused credit by the main lenders, made a pre-tax profit before one-offs of £76.5m in the first half of 2013.

But its consumer credit division, which sells small loans door-to-door, posted profits of £36.1m, down from £49.3m the year before.