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Top UK non-standard lender gets approval to operate in Poland


2012-05-07



Provident Financial Group (PFG), a leading UK supplier of personal credit products to the non-standard lending market, is entering Poland. In March Vanquis Bank, a unit of PFG that issues credit cards to customers with substandard credit profiles, received the green light from the Financial Supervisory Commission (KNF) to start operations in the Polish market. The company will reportedly invest £3m (approx. €3.7m) in a one-year pilot programme to test the country’s potential. According to PFG, Poland appears to have the critical mass of substandard customers making it the most attractive area of expansion in the EU.

London-listed PFG serves over 2.5 million customers through a network of more than 400 branches.



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