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Provident yet to decide on doorstep lending arm after reports of shutdown plans

Reuters
·1-min read

(Reuters) - Provident Financial said on Tuesday a review into its door-to-door lending business was nearing completion, adding it was yet to reach any decision following media reports the British company was planning to close the unit.

The company, which has been trying for years to turn around the division after a mishandled restructuring, said it will announce the outcome of the review along with its 2020 results on May 10.

The Mail on Sunday newspaper had reported Provident was planning to close the unit after 141 years and instead focus on its credit card and car finance businesses.

(Reporting by Muvija M in Bengaluru; Editing by Krishna Chandra Eluri)