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2023 results delayed by Intl Personal Finance due to Polish letter.

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TLDR:

International Personal Finance is delaying the publication of its 2023 earnings due to a regulatory letter from the Polish financial watchdog. The company expects its results to beat views but needs to assess the impact of the letter on its Polish business. IPF anticipates stronger-than-expected trading performance for 2023.

In a recent article on MarketWatch, it was reported that International Personal Finance is postponing the release of its 2023 earnings as it evaluates a regulatory letter from the Polish financial watchdog. The company, listed on the London stock exchange, believes its earnings will exceed expectations but is taking time to understand the implications of the regulator’s letter on its Polish business, Provident Polska.

The letter from the Komisja Nadzoru Finansowego outlines the regulator’s interpretation of laws and regulations regarding non-interest fees for credit card issuers in Poland. IPF stated that the assessment of this letter’s impact on its Polish credit card receivables, which represent around 5% of the group’s receivables, will take about a week to complete.

Despite the delay in publishing its 2023 results, IPF has indicated that it expects a strong trading performance for the year and has highlighted continued momentum in the early months of 2024. The company’s earnings are projected to surpass initial views, signaling positive growth and stability in its operations.

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