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Trading statements

IPF customer numbers fall

03 May 2017 09:45

International Personal Finance's customer numbers contracted year-on-year fell by 2% in the first quarter primarily as a result of competitive pressures in the Czech Republic and Poland.

IPF said it delivered credit issued growth of 5% driven by IPF Digital and a return to higher levels of growth in its Mexico home credit business, offset partly by lower growth in southern Europe which was impacted by new creditworthiness assessment regulations in Romania.

IPF said impairment as a percentage of revenue was 27.0% and remained within its target range of 25% to 30%.

Looking ahead, IPF said: "We will continue to optimise the performance of our European home credit businesses to fund growth in our IPF Digital and Mexico home credit operations.

"In Mexico, we remain focused on balancing good growth with improving collections and expect to deliver further strong growth in IPF Digital."

At 9:45am: (LON:IPF) International Personal Finance PLC share price was -0.5p at 160p

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