British lender leaves Poland

Vanquis Bank, credit cards provider and part of the British Provident announced its withdrawal from the Polish market. The lender has been operating here since 2012. Credit cards offered by Vanquis appeared not to fit the Polish market, where this kind of legal tender is not popular, the company said. "Unfortunately, the pace of winning new consumers is slower than predicted. ... The time needed to reach assumed investment return was too long ... and it is not the best way to use the group's capital," the company said in a statement. As of the end of 2014, the lender had 59,000 consumers who were repaying loans worth PLN 15.5 million. The cost of opening its business in Poland was £20 million.