International Personal Finance reports "positive start" to this year

(Alliance News) - International Personal Finance PLC on Thursday recounted a "positive" first quarter as its acquisition proceeds, and said it has good momentum for the year ahead.

The Leeds, England-based financial services company also reported that Provident Poland Country Manager Marcin Zuchowski sold 100,000 shares at 247.11 pence each, for GBP247,105 in total, on Thursday in London.

Shares in IPF were up 0.2% at 247.56p on Thursday afternoon in London.

In its quarterly trading update, IPF said it made a "positive start to 2026, with continued operational momentum underpinning confidence in delivering our financial and strategic plans."

Group customer lending increased 23% annually for the first quarter of 2026, while customer numbers rose 5% to 1.7 million. Net receivables totalled GBP1.08 billion at March 31, up 16% from one year prior.

"We have entered 2026 with very good momentum, building on our performance in 2025," commented Chief Executive Officer Gerard Ryan. "Demand for our products remains robust, and we are seeing continued benefits from our Next Gen strategy through growth in customer numbers, lending and receivables."

IPF said Provident Europe was its "stand-out performer" in customer lending, with a 30% increase which was "primarily driven by strong momentum in credit card lending in Poland." Lending for Provident Mexico and IPF Digital rose by 11% and 17%, respectively.

The increase in the number of customers was also supported by growth in Poland, IPF said, also citing "continued momentum from our other new products and expanded distribution channels."

On its planned acquisition by BasePoint Capital LLC through IPF Parent Holdings Ltd, International Personal Finance said BasePoint has continued working towards satisfying the remaining conditions for the deal to complete. They still expect to close the takeover by the end of the second quarter.

"Regulatory approvals have now been received in all jurisdictions other than in Estonia and Poland," IPF noted.

Looking ahead, IPF stated: "We have entered 2026 with continued positive growth momentum, supported by robust credit quality and a strong balance sheet...We continue to invest in key growth opportunities, particularly in Mexico and Australia, alongside further development of our products and customer acquisition channels.

"Whilst this may impact returns in the short term, it is expected to support sustainable growth over the medium term."

By Emma Curzon, Alliance News reporter

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