Vanquis Banking Group 20 (VANQ): Results below expectations
This situation live
VANQ Vanquis Banking Group 20
Results below expectations
below expectations
Directionbelow expectations / warning
Reaction on the day−26%
In 12 months1 statement in the same direction
Company's wordsWhile new lending volumes remained resilient overall, with particularly strong growth in Second Charge Mortgages, an uncertain macroeconomic backdrop resulted in more cautious consumer behaviour leading to lower than expected spending and utilisation from existing Credit Card customers. ↗
As of 30 Jul 2026 ↗
Since Oct 2023: 661 situations of this kind; median share price +2% six months after they opened
Next: FY26 results: dividend decision and ROTE delivery
Every step · 1
- 30 Jul 2026 below expectations – While new lending volumes remained resilient overall, with particularly strong growth in Second Charge Mortgages, an uncertain macroeconomic backdrop... ↗
What is happening
Vanquis Banking Group 20: Results below expectations – below expectations. ['below expectations']
- In short
- Vanquis had guided to low double digit statutory ROTE for 2026 as recently as May 2026. At the half year it cut 2026 to low single digit, as lower Credit Card yields from new customers and cautious spending moderate returns. Low double digit is now 2027 and mid-teens 2028.
- Announced
- 30 Jul 2026 · below expectations · -26% on the day
- 2026 ROTE
- Low single digit (previously low double digit)
- 2027 ROTE
- Low double digit
- 2028 ROTE
- Mid-teens
- 1H26 ROTE
- 2.5% statutory
- Cause
- More new customers at lower early yields; lower spending and utilisation by existing Credit Card customers
- Dividend
- Modest dividend intended with FY26 results if no significant UK economic deterioration
What comes next
FY26 results: dividend decision and ROTE delivery.
From the company's own announcements. Not investment advice.
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Capital returnTender offer – paid · closed
Vanquis Banking Group 20 – company page →