Published: February 26, 2024 2:43am ET
Written by Elena Vardon
International Personal Finance is postponing the publication of its 2023 financial results, which it expects will receive more views, due to the impact a regulatory letter from Poland's financial watchdog will have on its results.
The London-listed credit company said on Monday that Comisha Nazor Finansowego's letter said:
Written by Elena Vardon
International Personal Finance is postponing the publication of its 2023 financial results, which it expects will receive more views, due to the impact a regulatory letter from Poland's financial watchdog will have on its results.
The London-listed credit company said on Monday that a letter from Komisha Nazor Finançowego, which it said was sent to all regulated financiers in the country's credit card market, would clarify existing laws and regulations regarding non-interest fees. The report outlines the regulator's view on how the law applies. It must be interpreted by the credit card issuer. The group added that it was assessing what impact this would have on the performance of its Polish business Provident Polska.
The work is expected to take about a week to complete. Polish credit card receivables account for approximately 5% of the Group's receivables.
IPF added that it expects to report better-than-expected trading performance in 2023, and warned that the momentum will continue into early 2024.
Email Elena Vardon at elena.vardon@wsj.com.
