International Personal Finance plc (IPF.L) said Thursday it posted a good start to 2026, with double-digit Customer lending and receivables growth in the first quarter, driven by all divisions with robust demand and its Next Gen strategy.
For the first quarter, Customer lending rose 23 percent year-over-year at constant exchange rates. Customer numbers grew 5 percent to 1.724 million.
Closing net receivables increased 16 percent to 1,081 million pounds, reflecting momentum across all three divisions.
The company said that Provident Europe was the "stand-out performer" with 30 percent lending growth, led by credit card momentum in Poland.
IPF Digital and Provident Mexico delivered 17 percent and 11 percent growth, respectively.
Customer repayments remained robust, through the annualised impairment rate rose to 10.3 percent, up 1.3 ppts since year-end 2025, reflecting higher lending volumes.
Annualised revenue yield fell 2.0 percentage points from last year to 52.2 percent due to lower central bank base rates and growth in lower-yielding Polish receivables.
The cost-income ratio improved 0.3 percentage points to 61.1 percent.
Regarding its proposed acquisition by IPF Parent Holdings Limited, through a newly formed BasePoint Capital LLC, the company noted that resolutions were approved, as announced on March 11.
Regulatory approvals have been received in all jurisdictions except Estonia and Poland, with Parties aiming to complete the deal by the end of the second quarter.
Looking ahead to fiscal 2026, IPF said it sees good demand for credit, with Next Gen strategy driving growth through its expanded product set and distribution channels.
The company continues to invest in Mexico and Australia and expects growth to support medium-term returns despite potential short-term impacts.
On the LSE, shares of IPF were gaining 0.25 percent trading at 247.61 pence.
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