Avantcard back in growth mode as it eyes car finance and SME lending

Lender born out of MBNA ‘at the start’ of leveraging relationships, says CEO Chris Paul

Chris Paul: “I genuinely think the Irish consumer is underserved”

Chris Paul: “I genuinely think the Irish consumer is underserved”

It’s barely two months since the ink dried on the completion of Bankinter’s takeover of Irish-based consumer finance company Avantcard. And already Avantcard is readying up for the next stage in its growth as it eyes a move into car finance and SME lending – but not mortgages.

Avantcard was born out of US credit card company MBNA, which had a substantial presence in Carrick-on-Shannon, Co Leitrim. It employed more than 1,000 people before pulling out of the market in 2012. The business was subsequently acquired by US private equity fund Apollo, and chief executive Chris Paul joined from Barclaycard in October 2017.

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