Vanquis Banking Group 20 (VANQ): FCA motor finance redress scheme

This situation live

VANQ Vanquis Banking Group 20

£173m · 70.5p · −38% since the first step

5 Nov 2025 · Consultation; £3.0m provision recognised · +13% until the next step This provision will be reviewed and refined once the FCA publishes the final scheme rules.

26 Feb 2026 · £3.0m provision held; exposure limited · −11% until the next step While the final scope of the scheme remains subject to change, the Group has recognised a £3.0m (FY24: £nil) provision based on probability-weighted scenarios.

27 Apr 2026 · Not challenging; implementing; provision unchanged at £3.0m · +4% until the next step 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.

6 May 2026 · Exposed to Scheme 2 only; provision unchanged £3.0m · −38% since The Group has 4,338 credit agreements where commissions paid were above 39% of the total charge for credit and 10% of the total amount of credit.

Legal & regulatory

FCA motor finance redress scheme

Exposed to Scheme 2 only; provision unchanged £3.0m

Next: finish scheme implementation review; response rates and costs

Every step · 4

5 Nov 2025 Consultation; £3.0m provision recognised – This provision will be reviewed and refined once the FCA publishes the final scheme rules. ↗
26 Feb 2026 £3.0m provision held; exposure limited – While the final scope of the scheme remains subject to change, the Group has recognised a £3.0m (FY24: £nil) provision based on probability-weighted scenarios. ↗
27 Apr 2026 Not challenging; implementing; provision unchanged at £3.0m – Vanquis Banking Group plc ("the Group" or "Vanquis") confirms that it will not challenge the Financial Conduct Authority's Motor Finance Redress Schemes and... ↗
6 May 2026 Exposed to Scheme 2 only; provision unchanged £3.0m – The Group has 4,338 credit agreements where commissions paid were above 39% of the total charge for credit and 10% of the total amount of credit. ↗

What is happening

Vanquis Banking Group 20: FCA motor finance redress scheme – Exposed to Scheme 2 only; provision unchanged £3.0m. ['Exposed to Scheme 2 only; provision unchanged £3.0m']

Announced: 5 Nov 2025 · Consultation; £3.0m provision recognised
Latest: 6 May 2026 · Exposed to Scheme 2 only; provision unchanged £3.0m
What it changes: No change: Q1 is in line with unchanged guidance. Balance growth and a statutory profit continue, while NIM and CET1 decline as expected, and the guided path for margin and capital is the thing to watch.

What comes next

finish scheme implementation review; response rates and costs.

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