Doorstep lender profits from rival Provident’s difficulties
Credit lender Morses Club has reported a 25% increase in cash loans as it takes advantage of the difficulties of West Yorkshire rival Provident Financial.
Bradford-based Provident issued its second profit warning of the summer two weeks ago - which resulted in the departure of its chief executive, a 66% one-day fall in its share price, and it being relegated from the FTSE 100.
Provident's problems stem from a change to its home credit division, as it sought to replace its part-time army of agents with a smaller number of full-t... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
