International Personal Finance PLC
LSE:IPF
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International Personal Finance PLC
International Personal Finance Plc provides home credit and the human face of finance. The company is headquartered in Leeds, West Yorkshire and currently employs 5,842 full-time employees. The company went IPO on 2007-10-08. The firm owns and operates a home credit business and a financial technology operator, IPF Digital. The Company’s home credit products and features include Home credit cash loans with agent service, money transfer loans direct to bank account, micro-business loans, home, medical and life insurances, provident-branded digital loans and weekly and monthly repayments. The Company’s digital business products and features include revolving credit line products, mobile wallet, instalment loans with terms up to three years, monthly repayments, and fast online application and credit decision.
International Personal Finance Plc provides home credit and the human face of finance. The company is headquartered in Leeds, West Yorkshire and currently employs 5,842 full-time employees. The company went IPO on 2007-10-08. The firm owns and operates a home credit business and a financial technology operator, IPF Digital. The Company’s home credit products and features include Home credit cash loans with agent service, money transfer loans direct to bank account, micro-business loans, home, medical and life insurances, provident-branded digital loans and weekly and monthly repayments. The Company’s digital business products and features include revolving credit line products, mobile wallet, instalment loans with terms up to three years, monthly repayments, and fast online application and credit decision.
Strong Recovery: IPF delivered a strong Q3 operational performance, with improved credit issuance and robust collections as the business continues to recover from the pandemic.
Customer Growth: The company added 36,000 customers in the quarter, bringing the total served to 1.7 million, reversing last year’s declines.
Credit Issued: Credit issued grew by 35% year-on-year, with growth driven by both European and Mexican home credit operations.
Impairment Down: Impairment as a percentage of revenue improved to 12%, down more than 25 percentage points since the end of 2020.
Cost Control: Costs fell by 2% year-on-year due to tight cost management, but management expects personnel costs to rise next year due to wage inflation and the return of incentives.
Dividend Outlook: Management signaled a return to ‘business as usual’ for dividends, with payout rates expected to normalize.
Regulatory/Legal Issues: Legal and settlement charges in Poland and Spain are fully provided for and already included in market consensus numbers.
Guidance: The company expects continued positive sales trends and that impairment as a percentage of revenue will remain below the 25–30% target range for 2021, gradually rising in 2022.
