(RTTNews.com) – International Personal Finance Plc (IPF.L) reported that it delivered first-quarter credit issued growth of 5 percent, while customer numbers decreased by 2 percent.
The credit issued growth of 5 percent was driven by by IPF Digital and a return to higher levels of growth in the company’s Mexico home credit business. This was offset partially by lower growth in Southern Europe, which was impacted by new creditworthiness assessment regulations in Romania.
Customer numbers contracted year-on-year by 2 percent, primarily as a result of competitive pressures in the Czech Republic and Poland.
Europe home credit decreased by 7 percent and customer numbers contracted by 9 percent.
Looking ahead, the company said it will continue to optimise the performance of its European home credit businesses to fund growth in IPF Digital and Mexico home credit operations. In Mexico, the company remains focused on balancing good growth with improving collections and expect to deliver further strong growth in IPF Digital.
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