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UK's Vanquis Banking sinks after cutting CET1 ratio forecast

By Reuters News

** Shares of Vanquis Banking VANQ.L sink as much as 34.1% at 48p, lowest level since March 2025

** Stock on track to record biggest one-day percentage drop since March 2024

** Co cuts FY CET1 ratio target to above 14% from above 14.5% previously

** Management assumes weaker consumer credit conditions will persist into 2027 and expects statutory ROTE to be negligible in 2026 instead of low single digits

** Including session losses, VANQ down 57.2% YTD

($1 = 0.7503 pounds)

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