LONDON (dpa-AFX) - International Personal Finance Plc. (IPF.L) said that its trading in the first ten weeks of 2020 was in-line with its expectations. The Covid-19 crisis has impacted its business.
For the quarter as a whole, Group credit issued contracted by 15% year-on-year, largely attributable to the significant tightening of credit settings implemented across the Group in March.
The company expects to limit credit issued in April to around 30% of its original budget. Collections were at 95% of budget for the first-quarter as a whole and 87% in March as Covid-19 restrictions were implemented across Europe.
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