Published: Feb. 26, 2024 at 2:43 a.m. ET
By Elena Vardon
International Personal Finance is delaying the publication of its 2023 earnings, which it expects to beat views, as it considers the impact of a regulatory letter from the Polish financial watchdog on its results.
The London-listed credit company on Monday said that the Komisja Nadzoru Finansowego’s letter–which it said was…
By Elena Vardon
International Personal Finance is delaying the publication of its 2023 earnings, which it expects to beat views, as it considers the impact of a regulatory letter from the Polish financial watchdog on its results.
The London-listed credit company on Monday said that the Komisja Nadzoru Finansowego’s letter–which it said was sent to all regulated lenders in the country’s credit card market–outlines the regulator’s view on how existing laws and regulations relating to non-interest fees should be interpreted by credit card issuers. The group is assessing what this means for the performance of its Polish business Provident Polska, it added.
The work is expected to take around a week to complete, it said. Polish credit card receivables make up around 5% of the group’s receivables.
IPF added that it expects to report stronger-than-expected trading performance for 2023 and flagged that momentum has continued into early 2024.
Write to Elena Vardon at [email protected]
