International Personal Finance (IPF): Consistent Annual Excellent Progress
- Author: Jeffrey Simmons
- Posted: 2024-04-09
International Personal Finance (IPF) provides unsecured consumer credit to over two million customers across eleven markets. It is the world's largest home credit business.
International personal finance recently got a digital platform with their new FinTech business IPF Digital. Mr. Gerard, the CEO of IPF, maintained an open mind regarding the success of IPF Digital.
Excellent Progress in 2018
IPF expanded its program into geographic expansion and micro-business lending. Mexico was the most prosperous country in the program. Overall, IPF saw a 6% increase in credit issued that year. Mexico alone recorded a 12% increase in the credit given. The customer count alone rose by 11%.
The CEO of IPF, Mr. Ryan, was pleased with the success in the Mexican market. He promised to increase his company's presence in the country. In that year alone, International Personal Finance has opened six branches. Mr. Ryan planned to open five more branches within the last quarter of the year and the start of 2019.
IPF's European market did not see good times like the Mexican market. However, it still recorded only a 5% decline in the credit issued. Mr. Ryan was aware of the European market's challenges because of the competitive market in the region. The increased regulations in the credit market made it more challenging for the company.
The new IPF Digital was a massive success by recording a 35% increase in credit issued. The digital platform looked promising for future growth and profitability. The features in the FinTech business appealed to customers, especially in the established markets.
The IPF group expects the Digital branch to hit new records within the following year. Mainly, IPF Digital offers a revolving credit line that is consumer-friendly to its clients.
Excellent Progress in 2019
After a good year in 2018, IPF did not slow down one bit. They proceeded to claim 2019 as their year as well. With a 4% increase in pre-tax profits, the company saw over one hundred million euros in profit. The European home credit and the digital businesses recorded maiden profit records that year.
2019, painted IPF Digital as a success, proving its ability to serve its customers in a digital platform. Mr. Ryan remained optimistic about the Mexican market and planned to expand IPF Digital's reach to more markets heading to 2020.
The Group plans to evolve the products and channels they offer to meet their clients' needs more efficiently. It will enable them to deliver enhanced shareholder value while contributing to the society in which they exist.
Excellent Progress in 2020
2020 was a year that met everyone with a hard knock out. The global pandemic affected almost all businesses negatively. For IPF, the sky is the limit. The company recorded an increase of 60% expected pre-COVID-19 projections.
Mr. Ryan reported a reasonable performance rate in all the markets despite the Covid-19 restrictions. He promised to keep a steady growth rate of their services to their esteemed client base. Even with the second wave of the pandemic, the company managed a 97% increase in credit issued.
The company completed a successful refinancing project within the year; it was a new 5-year bond issue and amended covenant package across all the Group's bonds. This project secures the future of the company with over half a billion euros in funding.
What 2021 Looks Like
With just two months into 2021, IPF already has a great head start. The firm has started a group-wide IPF Care Program called 30 Days of Happiness. The program aims to offer support to IPF's staff in the challenging times caused by Covid-19.
The program is focused on a series of self-care routines to be performed consecutively in thirty days. It is open to all the staff of IPF. 30 Days of Happiness is focused on building resilience as character-development.
The program has five themes: connecting with self, acts of kindness, learning something new, connecting with others, and doing what you love. The challenges are voluntary, and the participants will share their experiences throughout the program. The program's primary focus is to put the employees at ease in the workplace as the world continues to go back to normalcy.
IPF has a tremendous growth curve, and they are aiming higher in 2021 to achieve more and keep their clients satisfied. The markets they are branching to are promising a bright future. Mr. Ryan commends the excellent leadership team of IPF for their expectational leadership. Their strategic approach and unrelenting attitude and loyalty to IPF reflect on the great company's success.
