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Provident Financial tightens up

Improving impairment rates suggest the lender is tightening credit issuance standards
February 28, 2020

Provident Financial (PFG) has proposed a bumper increase in its final dividend, after a busy year marked by a distracting hostile takeover bid, a revamped strategy and a stabilisation in adjusted pre-tax profits. To chief executive Malcolm le May, these signs reflect the high-cost credit provider’s adaptation to “changing customer needs and the evolving regulatory environment”.

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