State's largest moneylender quits doorstep lending after €132m loss

Calls for a cap on the cost of credit that moneylenders can charge

Provident said they will continue to collect repayments on existing loans and continue to submit information to the Central Credit Register.

Subprime lender Provident is to stop issuing new loans in Ireland and the UK after more than 140 years in business.

The decision comes as the doorstep lender, one of the largest in Ireland, revealed losses yesterday of £113.5m (€132m) for 2020.