REG - Non-Standard Fin - Market developments in home-collected credit <Origin Href="QuoteRef">NSF.L</Origin>

Non-Standard FinanceAnnouncement

28/02/2017 08:00

RNS Number : 0261Y
Non-Standard Finance PLC
28 February 2017
Non-Standard Finance plc ('NSF')
28 February 2017
Market developments in home-collected credit
NSF has noted the announcement by Provident Financial Group PLC, the UK's largest provider of home-collected credit, that it intends to substantially reduce the scale of its agent network and change the way it operates its home-collected credit business so that all of its remaining self-employed agents will have to become full-time employees.
Along with many other regulated home-collected credit businesses, Loans at Home operates through a network of self-employed agents, many of whom are attracted by the flexibility to work when they want to, often so that they can meet family or other work commitments. Such flexibility helps us to attract quality agents living in their local community which means they are well-placed to deliver good outcomes for our customers.
We continue to believe that a network of self-employed agents is the preferred structure for our home-collected credit business - a model that that has stood the test of time since the business was started in 1938 - and are continuing to recruit agents with previous home credit experience.
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For more information:
Non-Standard Finance plc
Peter Reynolds, Director, IR and Communications
+44 (0) 20 3869 9026
Bell Pottinger
Dan de Belder
Aarti Iyer
Molly Stewart
+44 (0) 20 3772 2500

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