Leeds consumer credit specialist “well-placed” for post COVID-19 growth
A Yorkshire-based consumer credit firm has seen an uplift in collections as the coronavirus pandemic has continued.
International Personal Finance (IPF) has seen its collections reach 88 per cent of pre-COVID expectations in June.Collections for April were 76 per cent, rising to 80 per cent in May.
The Leeds-headquartered firm’s net cash flow generation has also stayed consistent over the past two months, with £43m in May and £42 in June.
Gerard Ryan, CEO at IPF, commented: “I am very encouraged by the continued improving performance delivered in June, both in terms of customer collections and credit issued.
“Most of our agents have resumed their weekly visits to customers and, as we steadily increase new lending across our home credit and IPF Digital businesses, we expect to deliver further improvements in performance.
“Our business plays a key role in society by providing credit responsibly to consumers who are underbanked or underserved, and we are well-placed to continue to meet their credit needs after the impact of Covid-19 subsides.”
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