International Personal Finance Plc November 2020 Trading and Regulatory Update (9234I)
17 Diciembre 2020 - 1:00AM
UK Regulatory
TIDMIPF
RNS Number : 9234I
International Personal Finance Plc
17 December 2020
17 December 2020
International Personal Finance plc
November 2020 Trading and Regulatory Update
International Personal Finance plc (IPF) specialises in
providing unsecured consumer credit to around 1.7 million customers
across 10 markets. We operate the world's largest home credit
business and a leading fintech business, IPF Digital .
As part of our ongoing strategy to regularly inform and update
investors on key operational performance metrics during the
Covid-19 pandemic, IPF is publishing the following information for
November 2020 together with an update on regulatory matters.
-- Robust collections effectiveness
Collections effectiveness was robust in November and remains at
97% of pre-Covid expectations. All of our businesses (excluding
Hungary where an opt-out moratorium is in place) delivered a good
performance. T he modest reduction in collections effectiveness we
expected during the winter has not materialised, but we continue to
plan for a softening in performance in the coming months.
-- Credit issued stable
Although most of our markets are currently implementing more
restrictive measures on people movements to cope with the second
wave of the Covid-19 pandemic, credit issued increased by 1 ppt in
the month to 61% of pre-Covid expectations. We have progressively
relaxed credit settings since the half year and our plan remains
focused on rebuilding the receivables portfolio while maintaining a
clear focus on portfolio quality and the macroeconomic effects of
Covid.
-- Regulatory update
Following its actions earlier in 2020 in response to the
pandemic, the Polish government is proposing a bundle of further
measures, including the extension from 8 March 2021 until the end
of 2021 of the temporarily reduced cap on non-interest costs of
consumer credit. The proposals, which would only impact new
lending, are expected to be debated in the Polish houses of
parliament in the coming weeks and may also be referred to the EU
for review and comment. We will update the market with our
assessment of the potential financial impact on our Polish
business, if and when the proposals are finalised and enacted.
Gerard Ryan, CEO at IPF, commented: "We continued to perform
well in November. Collections remained robust and we increased
credit issued in line with our strategy to progressively rebuild
the receivables portfolio while maintaining credit quality. We will
continue to focus on protecting our colleagues so they can serve
our customers safely during the peak month of December and
beyond."
Investor relations and media contact:
International Personal Finance Rachel Moran
+44 (0)7760 167637 / +44 (0)113
285 6798
A copy of this statement can be found on our website -
www.ipfin.co.uk
Legal Entity Identifier: 213800II1O44IRKUZB59
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTKKABBFBDDOBD
(END) Dow Jones Newswires
December 17, 2020 02:00 ET (07:00 GMT)
International Personal F... (LSE:IPF)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
International Personal F... (LSE:IPF)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024