Our Sustainability Report is designed to provide you with a balanced account of how Vanquis Banking Group's Purpose, Mission and Strategic Priorities are aligned to the Group’s responsible business strategy, as well as further details of the progress that has been made during 2022. 

The report relates to the non-financial aspects of Vanquis Banking Group plc and its key stakeholders: customers, colleagues, shareholders and debt investors, regulators, communities, suppliers and the environment. It provides information and updates on our sustainability activities, performance and achievements throughout the year. 

During 2022, as we took a number of important decisions regarding Vanquis Banking Group’s future strategy. We continued to ensure our Purpose is strategically aligned with the approaches we take to  lending to our customers in a responsible manner, and acting responsibly and sustainably in all our relationships.

We did this by continuing to focus on creating a fair, inclusive and diverse workplace culture for our colleagues, investing in the communities we serve, taking positive action on climate change, and engaging with our stakeholders on the environmental, social and governance (ESG) agenda.

This ensures that we continue to deliver on our Purpose and provide our customers with the responsible credit products and services that meet their particular needs, as well as playing our role in addressing the key social, environmental and ethical challenges that are relevant to our business activities and stakeholders.


hours volunteered by colleagues during work hours
(2021: 425 - Up 139%)


average hours of L&D per colleague
(2021: 24 - Up 21%)


reduction in our scope 1 and 2 (and associated scope 3) emissions
(2021: 11% - Up 27%)


invested in the community 
(2021: £1.4m)


of directors are female 
(2021: 21%)


donated to colleague fundraising efforts 
(2021: £9.9K)

Malcolm Le May, CEO

Taken together, our Purpose, Mission, Strategic Priorities and Values bring clarity to why Vanquis Banking Group exists and the role we play in the lives of our customers. They also underline our commitment to responding to the needs of our key stakeholders and managing and reporting our environmental, social and governance performance.

Our Sustainability Strategy 

Our sustainability strategy is aligned with our Purpose, Mission and Strategic Priorities, and centres on the following two areas: operating our business of lending to our customers in a responsible manner; and acting responsibly and sustainably in all our stakeholder relationships. This strategy continues to be aligned with the UN Sustainable Development Goals, with our efforts focused on the Goals where our contribution can have the most impact.

These are: Goal 1 – No Poverty, Goal 4 – Quality Education, Goal 5 – Gender Equality, Goal 8 – Decent Work and Economic Growth and Goal 10 – Reduced Inequalities.

We also continue to contribute to support other important SDGs such as those that relate to the environment, including Goal 12 – Responsible Consumption and Production and Goal 13 – Climate Action.

Customer satisfaction rate

It's vital that we know that our customers are happy with the products and services we provide
to them. Monitoring rates of customer satisfaction helps us to determine whether we are providing our customers with products, services and partnerships that meet their particular needs and help put them on a path to a better everyday life. Tracking customer satisfaction also gives us some insight into where we can make improvements to our offerings so that we can continually meet or surpass customers’ expectations.

Customer Satisfaction: Credit cards


satisfaction rates (2021: 4.7/5)


complaints (2021: 19,517)

Customer Satisfaction: Vehicle Finance


satisfaction rates Feefo (2021: 4.4/5)


complaints (2021: 8,717)

Spotlight on I&D

Our ambition is to build and sustain an inclusive culture where everyone can be themselves. Having a diverse workforce gives our business its unique character and culture and sets us up to better deliver for the diverse customer base we serve.

Sue Taylor, Gender Balance Co-Lead

Affinity Groups: Our five aligned Affinity Groups, Disability, LGBTQ+, Gender Balance, Ethnicity and Social Mobility, continue to provide a space for colleagues to openly share and discuss their experiences, explore barriers that prevent an inclusive workplace and recommend solutions to overcome these.

Inclusion and Diversity


of colleagues informed us that they had a disability or long-term health condition

(2021: 20%)


of colleagues informed us that come from a Black, Asian, other White or Minority Ethnic background

(2021: 19%)


of colleagues were eligible for free school meals when growing up

(2021: 17%)


of colleagues informed us that they were part of the LGBTQ+ community

(2021: 7%)

Spotlight on Community Investment

Our community investment strategy supports our Purpose by addressing key barriers to financial and social inclusion and helping people overcome them.

Our Purpose of helping to put people on a path to a better everyday life underpins our reason for being and the role we play in the lives of our customers. It also informs the choices we
make in our community investment activities, something that as been extremely important to us since we were founded back in 1880.

Our strategy is to invest in activities and initiatives which seek to address some of the key factors which, on their own or acting together, can reduce social and/or financial inclusion for children and young people (up to age 25).

These factors include (although are not limited to) lack of literacy or numeracy skills; disabilities and/or mental health issues; unemployment or underemployment; low levels of educational attainment; and low, uncertain or fluctuating  incomes.

The programme currently delivers community investment activities under the following
three workstreams.

Customers and colleagues – working with charities and specialist partners to provide
support that seeks to address key factors which affect customer and colleague wellbeing.

Education – supporting children and young people to boost their education, skills and
aspirations in order to participate in society and secure a brighter financial future.

Community – supporting community foundations and other partners to address the
wide range of social inclusion and social mobility issues that impact children and young
people and are relevant to our customers and the communities where we operate.

Our plans for the future

Through our charitable partnerships and colleagues, Vanquis Banking Group has always invested in its communities. More recently we have delivered projects via our Social Impact Programme which have positively impacted individuals and the communities where our customers live and work. In 2023, we plan to build on this programme and create and launch the Vanquis Banking Group Foundation (launched June 2023), which will be targeted at children and young people in the main and will aid social and financial inclusion.

Our Vision for the Foundation is: To build a future where every child and young person in the UK is supported to achieve their full potential, contributing to a brighter future for all.

Our Mission for the Foundation is: To improve the lives of children and young people by providing educational and social development opportunities which support financial and social inclusion.

To achieve our aim, we are building on our community investment work and creating a Foundation which has three strategic pillars, which focus on:

Having basic literacy and numeracy skills can help us to better understand the world and make sense of financial education when we get it, which in turn helps us make good choices
when it comes to managing money. However, most debt problems occur when a borrower experiences a change of circumstance, such as redundancy, divorce or ill health. It’s not
always a choice. Forbearance has a key role to play in helping customers who are suffering problems, and we believe at Vanquis Banking Group we do this really well, as helping the
customer get back on their feet is the best outcome for them and everyone else. However, no matter how responsible a lender is, there will always be some people who struggle with
debt problems. That’s why we’re involved in supporting debt management and financial counselling organisations to:
– ensure colleagues have the skills to deal with customers with additional needs;
– support the delivery of financial education to children and young people; and
– fund a range of debt advice organisations.

Education is key to making sense of the world. Access to better education can help us to make better decisions, explore new opportunities, participate in society and find our role in our
communities. Education can also enable us to become more socially mobile and make positive financial choices. That’s why we focus on areas of education where we believe we can make a lasting impact, by beginning working with children as young as two and three up to leaving school. The Group will therefore work with and support organisations such as
School-Home Support, National Numeracy, the Social Mobility Business Partnership, Leading Children and others to: – provide support for programmes to boost the literacy and
numeracy of children, young people and other groups; and – offer children and young people insights into the world of work and the skills that will help them secure opportunities, including employment.

Having a welcoming and supportive community can be the difference between whether a person feels socially included either physically or emotionally. Social exclusion takes many
forms, and people in need can risk becoming vulnerable, or more vulnerable, if they’re not able to access support or feel able to fully participate in their community. Through our community foundation partners, we will help to address the wide range of social and financial inclusion issues that are relevant to our customers and the communities where
we operate by:
– providing grants to grass roots organisations and charities through community foundations which will support local children and young people facing disdvantage;
– supporting colleagues to get involved as volunteers by:contributing to the grant-making process; and helping to improve and transform areas within our communities to
provide positive spaces where key social and financial inclusion initiatives can be delivered; and
– exploring how the Group might invest in voluntary, charity and social enterprise sector organisations which deliver products and services in a range of interventions for the benefit of children and young people.

2022 Sustainability Report Assurance Statement

This report has been independently assured by Corporate Citizenship in accordance with the ISAE 3000
Assurance Standard.

You can download our Full Sustainability report here