2023 was a challenging year for Vanquis Banking Group. After disappointing interim results in July 23, our new management team took immediate action to return the Group to a path of sustainable, profitable growth. Our North Star strategy will enable us to meet the needs of an expanded customer base and deliver attractive returns to our shareholders by 2026.

A quick glance at our year in numbers:


Total customer numbers1

(2022: 1.67m)


Amounts receivable from customers

(2022: £1.9bn)


Adjusted profit before tax - continuing operations

(2022: £126.6m)


Regulatory capital2

(2022: £678.8m)



(2022: £478.2m)


Statutory (loss)/profit before tax - continuing operations

(2022: £110.1m)


Adjusted return on tangible equity

(2022: 21.8%)


Operational carbon footprint offset3

(2022: 100%)

1 Total customer numbers net of cross product holding.

2 The reduction in regulatory capital is primarily due to the scheduled unwind of IFRS 9 transitional relief and dividends paid.

3 Not including scope 3 emissions associated with suppliers’ and financed vehicle emissions.

Sir Peter Estlin, Chairman

The Board is highly supportive of our Purpose and strategy being developed by the executive team, and encouraged by our early progress.

Ian McLaughlin, CEO

We’re here to deliver caring banking so our customers can make the most of life’s opportunities. Doing that well will allow us to deliver attractive and sustainable returns for our shareholders.

Annual Report 2022


Vanquis Banking Group Annual Report and Accounts 2023


Download here