Friday, August 14, 2020

IPF ‘very encouraged’ by firm’s improving performance

International Personal Finance (IPF), a Leeds-based consumer credit firm, has reported an uptick in collections in the wake of the coronavirus crisis.

Collections reached 88% of pre-COVID expectations in June, the firm said, up from 80% in May and 76% in April.

Moreover, IPF’s net cash flow generation stayed consistent over the past two months – £43 million in May and £42 million in June.

“I am very encouraged by the continued improving performance delivered in June, both in terms of customer collections and credit issued,” said CEO Gerard Ryan.

“Most of our agents have resumed their weekly visits to customers and, as we steadily increase new lending across our home credit and IPF Digital businesses, we expect to deliver further improvements in performance.

“Our business plays a key role in society by providing credit responsibly to consumers who are underbanked or underserved, and we are well-placed to continue to meet their credit needs after the impact of COVID-19 subsides.”

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