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Shares of sub-prime lender Provident Financial tumbled 6.6 per cent on the mid-caps after Canaccord Genuity cut its rating to "sell", citing precarious capital position and dividend risks.
On Wednesday last week, Non-Standard Finance announced its GB1.3 billion offer for fellow sub-prime lender Provident had become unconditional as to acceptances, with 53% of Provident shares taking up the offer.
Non-Standard Finance (NSF) dismissed suggestions that it would have to raise fresh capital if the sub-prime lender was to succeed in its PS1.3bn takeover tilt for rival Provident.
GE Capital Woodchester Home Loans, a sub-prime lender, agreed to the loan without documentation from Orlaigh to prove that she could afford her share.
SUB-PRIME lender Provident Financial said its quarterly trading has been robust - driven by strong growth at its credit card business.
The High Court ended John and Shelia Nolan's nightmare and dismissed the proceedings brought by sub-prime lender Home Funding Corporation Ltd.
July 25: Fremont Investment & Loan, a national sub-prime Lender of some repute, is closed in a voluntary Liquidation.
Its British operations are expected to show flat profits for 2011, while its American arm continues to suffer the fall-out from the acquisition of sub-prime lender Household in 2002, reports said yesterday.
The Office of Fair Trading (OFT) has imposed requirements on Alliance & Leicester Personal Finance, American Express Services Europe, HFC Bank, part of HSBC, and Welcome Financial Services, which is part of sub-prime lender Cattles, following concerns about the way they were enforcing some consumers' debts.
Sub-prime lender Kensington has been hit with a fine for over Au1.2 million and ordered to return over Au1 million in unfair charges to customers.
The sub-prime lender is still in talks with its lenders to get a standstill agreement.
Auto Business News-9 January 2009-UK sub-prime lender Cattles cuts 1,000 jobs(C)2009 ENPublishing - http://www.enpublishing.co.uk