INTERNATIONAL PERSONAL FINANCE PLC

Description

Founded in 1997 as a division of Provident Financial, International Personal Finance Plc is a UK-based international home credit business and digital business. It operates across 11 international markets with aim to make a difference in the everyday lives of its customers by offering them simple and personalized financial solutions. The company offers a unique combination of affordable home credit and innovative digital channels and products according to customers’ needs to customers with low to medium incomes who find it difficult to obtain finance from banks and other personal agents. The company demerged from Provident Financial in 2007. The company’s shares are listed on the London Stock Exchange as LON: IPF and its secondary listing on the Warsaw Stock Exchange in 2013.

The company operates through two main segments that include Home Credit and Digital.  The Home Credit segment offers unsecured cash loans of value of £500 to customers for everyday necessities, in their home through agents. These loans are typically for round 18 months that can be relayed on weekly or monthly basis. Its products are home credit cash loans with agent service, money transfer directly to bank account, Micro-business loans, provident-branded digital loans and home, life and medical insurance. It markets include Romania, Poland, Czech Republic and Hungary.

The Digital segment serves customers who need access to affordable credit quickly through an end-to-end digital service through their phones and PC. Its products include Mobile wallet, Revolving credit line products, fast online application and credit decision, installment product with terns up to three years and monthly repayments products, with average customer outstanding balance of around £1,100. Its established markets include Estonia, Latvia, Finland and Lithuania and new markets include Spain, Poland, Mexico and Australia.  The company’s brand portfolio includes Provident, Credit24, Hapiloans and Creditea.