Published: October 26, 2023 04:28 ET
By Elena Vardon
International Personal Finance said it was well positioned to deliver quality growth over the remainder of 2023 and into 2024, and its performance to date was ahead of internal plans.
The London-based loan company said there was strong demand for its products in all its markets in the third quarter, driven by growth in customer loans and…
By Elena Vardon
International Personal Finance said it was well positioned to deliver quality growth over the remainder of 2023 and into 2024, and its performance to date was ahead of internal plans.
The London-listed lending company said on Thursday there was strong demand for its products in all markets in the third quarter, pointing to growth in customer loans and receivables except Poland, where loans were moderate. Customer loans fell 1% year-on-year in the first nine months of 2023, but rose 11% excluding Poland.
It said closing net receivables were up 4% year-on-year to 875 million pounds ($1.06 billion) at the end of the third quarter, resulting in a 15% increase in revenue. He said customer numbers had fallen by 2%.
“We have not seen any noticeable impact from the cost of living crisis on customers’ repayment performance and our balance sheet position remains very solid with an impairment coverage ratio of 36.6%,” the group said.
Write to Elena Vardon at elena.vardon@wsj.com
