REFILE-Provident Financial’s loan volumes drop amid tighter underwriting rules

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(Corrects day in first paragraph)

May 27 (Reuters) – Doorstep lender Provident Financial Plc said on Wednesday tighter underwriting rules led to a drop in business volumes in April, although it added that it saw signs of a modest recovery in May.

The company, which provides credit to people who do not meet the lending criteria of mainstream banks, said lending to existing customers in its home credit unit was currently one-third of expected volumes. (Reporting by Muvija M in Bengaluru; Editing by Ramakrishnan M.)

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