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Investing.com -- International Personal Finance PLC (LON:IPF) reported strong third quarter results on Wednesday, with customer lending growth accelerating to 14% and net receivables surpassing £1 billion for the first time. Despite the positive operational performance, shares fell 4.3% as investors reacted to rising impairment rates.
The consumer credit provider, which operates across nine markets, saw its net receivables increase by 14% YoY to £1,007 million in Q3, with particularly strong growth in Mexico digital (+40%), Australia digital (+25%), Romania home credit (+20%) and Poland (+17%).
Overall customer numbers returned to growth, rising 2.3% YoY to 1.7 million, with over 40,000 new customers added in the third quarter alone.
However, the company’s annualized impairment rate increased from 8.3% to 9.8% in the quarter, which the company attributed to accelerated growth and higher up-front IFRS 9 impairment charges, particularly from new products. IPF expects this rate to continue moving toward its target range of 14% to 16% over the next two years.
"I am very pleased with the Group’s strong operational and financial performance in the third quarter, reflecting the continued delivery of our Next Gen strategy across all our markets," said CEO Gerard Ryan.
"We continue to see good demand from consumers for our expanded product set alongside excellent repayment performance and robust credit quality."
The company maintained a solid financial position with £83 million in headroom on debt facilities at quarter-end and an equity to receivables ratio of 52%, well above its 40% target. IPF secured £58 million in bank facilities during Q3, bringing the year-to-date total to £141 million.
Looking ahead, IPF confirmed it remains on track to deliver full-year results in line with previous guidance, while planning to reinvest in growth opportunities for 2026, particularly in Mexico, Australia, and new digital products.