Motor Finance Redress Schemes Update
Vanquis Banking Group plc has confirmed it will not challenge the Financial Conduct Authority's Motor Finance Redress Schemes and is focusing on implementation, noting it was not involved in discretionary commission or tied selling arrangements. The previously disclosed £3.0 million provision for this matter remains unchanged, and the company is committed to providing appropriate customer redress. Vanquis also intends to release its first quarter 2026 trading statement on May 6th.
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27 April 2026: Vanquis Banking Group plc ("the Group" or "Vanquis") confirms that it will not challenge the Financial Conduct Authority's Motor Finance Redress Schemes and is focused on implementation.
The Group did not participate in discretionary commission arrangements or operate tied selling arrangements and is therefore not in scope for these elements of the Schemes.
The previously disclosed £3.0 million provision in respect of this matter remains unchanged.
The Group remains committed to ensuring appropriate redress to customers where loss has occurred.
Vanquis intends to release its 1Q26 trading statement on 6 May.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.