IPF mortgage lender continues to rebuild as demand continues to rise

Gerard Ryan, CEO of IPF, said: “I am delighted to report a very good operational performance as credit demand levels have continued to increase.

The Leeds-based company added that improving consumer demand and the selective relaxation of credit parameters resulted in a 35% increase in loans issued year-on-year.

Gerard Ryan, CEO of IPF, said: “I am delighted to report a very good operational performance as credit demand levels have continued to increase.

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“Our business plays a vital role in society by providing credit to underbanked or underserved people, and we are successfully serving an increasing number of customers in a responsible and sustainable manner.

“Despite the current challenges posed by the pandemic, we see significant long-term demand for affordable credit in all of our markets and will continue to execute our rebuilding strategy by increasing credit issued and increasing the debt portfolio while maintaining a clear focus on portfolio quality and costs.

“My thanks go to all of our colleagues who are working diligently to serve our customers safely and to rebuild the business at this important time.”

IPF said the growing demand for consumer credit creates a good foundation on which to rebuild its digital business and generate sustainable growth. Year over year, the number of customers fell 6% to 256,000 due to suppressed demand in early 2021 due to the pandemic, its cautious credit parameters in Spain and the termination of loans in Finland.

However, it delivered an increase of 9,000 customers in the third quarter. The rate of credit issued also improved as the year progressed and new loans were in line year on year, with loans issued in the third quarter being 12% higher than in the second trimester.

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