Shares in UK money lender Provident Financial — which has a large operation in Ireland — rose in London after British payday lender Wonga stopped accepting new loan applications, amid questions over Wonga’s survival.

Payday lender Wonga has slumped into the red after revenues fell by almost £100m last year.

Payday lender Wonga is expected to slump into the red when it publishes full-year results this week.