- Vanquis reins back lending to save capital
- ROTE moves into positive territory but has some way to go
Seasoned investors know that the situation is serious when a 50 per cent cut in the dividend still leaves the income yield at above 10 per cent. Vanquis (VANQ) has endured its fair share of knocks over the past few years as the specialist lender has struggled to move on from its tried and tested – but increasingly untenable in a regulatory sense – doorstep lending model, and the share price has now dropped to a fraction of its net asset value as it has struggled to maintain profitability.