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Vanquis Banking Group plc confirmed on 27 April 2026 that it will not challenge the Financial Conduct Authority's Motor Finance Redress Schemes. The Group stated it is not in scope for specific elements of the schemes as it did not participate in discretionary commission arrangements or operate tied selling. Vanquis also confirmed its previously disclosed £3.0 million provision for this matter remains unchanged and intends to release its 1Q26 trading statement on 6 May.
| Date | 27 Apr 2026 |
| Time | 07:00:10 |
| Category | Miscellaneous |
| ID | 9226B |
Vanquis Banking Group plc ("the Company")
Motor Finance Redress Schemes Update
27 April 2026: Vanquis Banking Group plc ("the Group" or "Vanquis") confirms that it will not challenge the Financial Conduct Authority's Motor Finance Redress Schemes and is focused on implementation.
The Group did not participate in discretionary commission arrangements or operate tied selling arrangements and is therefore not in scope for these elements of the Schemes.
The previously disclosed £3.0 million provision in respect of this matter remains unchanged.
The Group remains committed to ensuring appropriate redress to customers where loss has occurred.
Vanquis intends to release its 1Q26 trading statement on 6 May.
Enquiries
Analysts and shareholders
James Cranstoun, Head of Investor Relations
+44 (0) 7766 937 406
Media
Scott Mowbray, Head of Group External Communications
+44 (0) 7834 843 384
Victoria Ainsworth, Senior Director (Hawthorn Advisors)
+44 (0) 7894 995 886