Vanquis Bank holds a banking license, accepts retail deposits and is regulated by the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA). Provident Financial is the subject of consolidated supervision by the PRA and FCA by virtue of being the parent company of Vanquis Bank.

The regulatory framework under which Provident Financial is supervised and Vanquis Bank is regulated is called the Capital Requirements Directive (CRD). As part of the CRD, Provident Financial is required to make annual risk disclosures which set out key pieces of information on the group’s regulatory capital risk exposures and risk management processes. These disclosures are referred to as ‘Pillar III regulatory capital disclosures’.

The group’s disclosures for 2013 are now available via the following link: Pillar III regulatory capital disclosures – April 2013.