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(Alliance News) - International Personal Finance PLC said on Friday that measures taken by governments amid the Covid-19 outbreak will hurt its trading in 2020.
The company which provides unsecured consumer lending said that although it traded in line with expectations in the first ten weeks of 2020, measures announced by governments - such as the opportunity for consumers in Hungary to take advantage of a debt repayment moratorium, and the significant restriction of non-essential contact in other countries - will have a negative effect on its collections and credit issued.
International Personal Finance also said that unless otherwise requested by customers, it has suspended its agent home service in Poland and has made arrangements allowing customers to pay remotely. It added that it is currently adapting its processes to allow remote payment in its other home credit businesses.
The Leeds-based group said that as at February, it had undrawn debt facilities of GBP203 million.
Looking forward, it said it will focus on managing liquidity through restricting its lending criteria across all its markets.
The stock was trading 13% higher at 81.41 pence each on Friday morning in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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