provident financial group - provident hc & satsuma

Founded in 1880, Provident Financial plc was a leading provider of credit products to UK consumers who were not well-served by mainstream lenders. Its Consumer Credit Division (CCD) operated two main brands: Provident, which was famous for its "doorstep" or home-collected personal loans, and Satsuma, which offered short-term online loans. Due to a surge in customer affordability complaints and regulatory pressure, the company announced the permanent closure of its CCD operations on May 10, 2021. A court-approved Scheme of Arrangement was implemented to manage and pay compensation to eligible customers. The parent company, Provident Financial plc, continues to operate through its other brands, Vanquis Bank (credit cards) and Moneybarn (vehicle finance).