Vanquis Banking Group plc (GB:VANQ) has released an update.
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Vanquis Banking Group plc reported a performance in line with expectations for Q1 2024, with a focus on implementing new strategies and improving customer propositions and risk management. Despite a decline in gross customer interest earning balances due to reduced unprofitable lending and higher debt repayments by customers, the bank saw an increase in net interest margin. The Group also highlighted advancements in operational efficiency and technology investments, alongside continued strong liquidity and capitalization.
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