AGM Statement

Provident Financial PLC
30 April 2003

At the company's Annual General Meeting held in Bradford today, Mr John van
Kuffeler, Chairman of Provident Financial plc, told shareholders:



'The trading performance of the group in the first quarter of 2003 has been in
line with expectations.



In the UK home credit business customer numbers, credit issued and profit are
developing broadly as we expected.  We continue to believe that the business
will deliver modest profit growth in 2003.



Yes Car Credit has been successfully integrated into the group.  Two new
branches have been opened in the first quarter and, as intended, we have
increased the proportion of cars sold that are in-house financed from 75% to
87%.  Both of these measures are helping to promote growth.  Overall, the
business is performing as planned.



Earlier this year we announced we would market test the addition of a credit
card to our UK product range through a new subsidiary, Vanquis Bank.  We have
made good progress.  Vanquis was granted a deposit taking licence by the FSA in
the first quarter of 2003.  It commenced trading on 22 April 2003 and is
currently processing its first applications from customers.



The motor insurance division also performed as expected during the first quarter
of 2003.  The more competitive conditions in the motor insurance market
experienced in the second half of 2002 have continued.  We have raised our
prices to achieve an adequate return and, as a result, policyholder numbers have
declined.  As previously indicated, we anticipate that profits from the motor
insurance division in the current year will be lower than in 2002.



The international division is performing well with profits growing strongly.  We
have achieved our target of one million customers in Central Europe a year ahead
of schedule with customer numbers at the end of March 2003 reaching one million
and eight thousand.  Our preparations for a pilot operation in Mexico are
progressing well and we intend to commence trading in the third quarter of this
year.  Overall, we continue to expect substantial growth in the contribution
from the international division in 2003.'





Enquiries:    David Stevenson, Communications Manager  Tel:  [phone]










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