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Vanquis Banking Group – “signs of affordability pressure emerged in some credit card customer cohorts”. Uh oh…

Vanquis Banking Group (VANQ) has issued a “3rd Quarter Trading Statement” with highlights including “Gross customer interest-earning balances increased by 5% in 3Q26 to over £3.2bn… Year-to-date net interest margin remained strong at 14.8% (risky borrowers then!)… expects to deliver improved profitability in both 2027 and 2028”. Er, what about this year it’s a trading statement for though?

By Steve Moore | Published 2026-10-29 14:34:58 |

Recent Comments

BEARISHBULL4 Nov 2026

Wetherspoon have previously shown they pay £1m *per pub* in various taxes.

JD Wetherspoon explains economics and job destruction to the Uniparty

JOHN BROWN4 Nov 2026

Reform UK has no economic plan: one minute Thatcherite, the next nationalising British Steel. Putting your faith in Reform UK is folly.

JD Wetherspoon explains economics and job destruction to the Uniparty

JOHN BROWN4 Nov 2026

JD Wetherspoon may be explaining economics but it is relying on a non-economics point to gather support for its position. Perhaps unwittingly, JD Wetherspoon explains how much more productive supermarkets are than pubs. If the nation wanted to consume beer as efficiently as possible it would ignore pubs and would buy all its beer from supermarkets. That would be best for economic growth and catastrophic for JD Wetherspoon. It makes sense, therefore, for JD Wetherspoon to appeal to our emotions, to emphasise the "social fabric" of pub life and park its economics lesson for a moment. We are reminded that capitalists don't often promote capitalism.

JD Wetherspoon explains economics and job destruction to the Uniparty

Eric_Tricity4 Nov 2026

The figures are possibly even worse than this, there are also beer taxes and other taxes. I saw an interview with a publican the other day who said after all these taxes he makes 20p profit on a £6 pint of his 'better' beer.The destruction of the hospitality trade and that is what it is, a planned destruction, is deliberate and until we have Reform UK, who are headed by businessmen, one of whom loves a pint, running the country this will continue. Virtually all retail and pubs will be shut by 2030 under Labour or Conservatives.

JD Wetherspoon explains economics and job destruction to the Uniparty

Eric_Tricity4 Nov 2026

The John Lewis advert is vile, even offensive, there is nothing I like about it. I have a JL near me, I shall not be shopping there again.

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