October 24, 2017 / 6:35 AM / a month ago

Lender IPF evaluates changes to Polish operations

Oct 24 (Reuters) - International Personal Finance (IPF) said it is evaluating possible changes to its Polish operations as it tries to reduce the impact of changes to Poland’s corporate tax rate.

The company, which provides small personal loans to borrowers in Europe and Mexico, said on Tuesday that it issued 5 percent more credit in the third quarter. However it is facing challenges in a number of its main markets, with possible tax changes in Poland and disruption in Mexico due to the recent earthquakes.

IPF said it had continued to engage with various Polish government ministries to encourage a “positive solution” regarding possible tax changes. On Oct 4 the company said that if the proposals went through in their current form, their 2016 tax bill would be between 12 million pounds to 14 million pounds higher.

The consumer credit lender said it now expects to see “slightly slower” rates of full-year credit growth in its Mexican business, which accounts for around 25 percent of the company’s earnings according to Thomson Reuters data. (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Rachel Armstrong)

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