Doorstep lender Provident Financial has defended itself from criticism by a Christian campaign group.

The company faced allegations from Bradford-based Church Action on Poverty about the effect of its lending tactics on the less well-off.

The group plan to protest outside Provident's Sunbridge Road headquarters tomorrow over allegations it targets vulnerable social groups for high-interest loans.

The group wants lower rates and for the Government to set an interest rate cap.

The Reverend Christopher Howson, of Bradford City Centre Mission, said: "Provident are charging huge amounts of interest. Their profits are excessive, which is financially beneficial to shareholders and directors but devastating to the estates and communities that are drained of millions of pounds every year."

The protest follows an interim finding by the Competition Commission which claimed the home credit market of which Provident has the biggest share is overcharging by up to £100 million a year.

But Provident was last week listed in the UK's top 100 businesses for ethical practices and also works with local group Christians Against Poverty to help debtors consolidate what they owe and convince creditors to reduce interest rates.

A spokesman said: "Provident is a responsible lender and the vast majority of our customers tell us they like and value home credit. They appreciate the access to small loans, the convenience and flexibility and the fact there are no default and penalty charges whatsoever no matter how long it takes to repay.

"Church Action on Poverty has become isolated from the mainstream money advice industry representatives and most other commentators who do not believe a maximum interest rate would help our customers."

Yesterday shareholders heard at the AGM how the firm's Vanquis Bank was continuing to grow its credit card numbers, which stand at 185,000.

In the international sector, the firm is expected to be given a separate listing on the stock exchange later this year in a bid for quicker growth. An announcement is expected in September when the company publishes its interim results.

The AGM also heard the company had parted company with director David Swann. He retires after 33 years, having been influential in setting up the firm's home credit service.

Andrew Fisher has become finance director and John Harnett managing director of the international division.

e-mail: mark.casci @bradford.newsquest.co.uk