Annual Report 2024
2024 was a pivotal year in the turnaround of Vanquis Banking Group.
Having laid out our strategy in March 2024, we made substantive progress in the transformation of the business. A new experienced leadership team was put in place and progress made to deliver a refreshed customer proposition, with an expanded product range and enhanced capabilities, including AI tools, which improved efficiency, scalability and overall customer experience.
Download the Vanquis Banking Group Annual Report and Accounts 2024
A quick glance at our year in numbers:
(7.0%)
Adjusted return on tangible equity
(2023: 1.9%)
18.4%
Net interest margin
(2023: 18.6%)
£2.3bn
Gross customer interest earning balances
(2023: £2.4bn)
66%
Adjusted cost: income ratio
(2023: 63%)
18.8%
Tier 1 capital ratio
(2023: 19.9%)
92.1%
Retail funding
(2023: 83.7%)
Sir Peter Estlin, Chairman
“As a financial services provider to close to 1.69 million customers, largely in the underserved credit market, we play a vital role in the UK financial system. We are uniquely positioned to fulfil our purpose, ‘to deliver caring banking so our customers can make the most of life’s opportunities’, while delivering long-term, sustainable returns for shareholders.”
Ian McLaughlin, CEO
“We’re here to deliver caring banking so our customers can make the most of life’s opportunities. Doing that well will allow us to deliver attractive and sustainable returns for our shareholders.”
Past reports
Here you can find a historic look back at our annual reports. Want to go further back? See our Results, Reports and Presentations where we keep a vast library.