LONDON (dpa-AFX) - International Personal Finance plc (IPF.L), a provider of unsecured credit, on Monday said it is delaying its full-year results for fiscal 2023. Following this news, shares are trading down around 5 percent.
The delay in results is due to the receipt received by Provident Polska, the polish arm of the business from Polish Financial Supervision Authority, the Komisja Nadzoru Finansowego or KNF.
The letter details KNF's views on how the existing laws and regulations relating to non-interest fees should be interpreted by credit card issuers.
The potential impact of this letter from the polish regulator on Provident Polska is being assessed by the company and hence the delay in finalizing the group's full-year results.
The company added that with the assistance of external counsel it is reviewing the impact of this communication on the sector and if it constitutes for a significant change to the existing approach taken by the KNF.
The company confirmed that its full-year results reflect a stronger than expected performance and the same momentum has continued in early 2024.
Currently, IPF shares are trading at 113 pence, down 4.64% in London.
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