UK's Vanquis Banking slumps on annual loss

Vanquis Banking

14/03/2025 08:51

** Shares of Vanquis Banking VANQ.L down as much as 22.4% to 42.6p, stock top pct loser on FTSE small cap index .FTSC

** VANQ recorded adj. pretax loss of 34.8 mln pounds ($45 mln) in FY24 vs profit of 17.3 mln pounds in 2023

** Co posts FY net interest income of 420 mln pounds, down 5% from 2023

** Impairment charges in 2024 also increased by 15% to 191 mln pounds vs 165.5 mln pounds in 2023

** In 2024, stock down ~65.56%

($1 = 0.77 pounds)

 (Reporting by Rishab Shaju in Bengaluru)

 ((Rishab.shaju@thomsonreuters.com))