June 28, 2019 / 8:10 AM / 4 months ago

BUZZ-Int'l Personal Finance: Drops after update on Polish consumer credit legislation

** Doorstep lender International Personal Finance Plc’s shares down 9.7% at 133.8p; set for fourth straight session of losses

** Council of ministers in Poland amended a draft set of proposals on June 25 to reduce the existing cap on non-interest costs charged by lenders on consumer loans

** Proposal now calls for flat level cap of 10% of loan value vs current 25% cap and for additional cap per annum of 10%, down from current 30% cap

** IPF’s European home credit business is its biggest by revenue, representing slightly over half of the total rev in 2018

** It is not currently clear how much impact the Polish regulatory changes would have on the group

** IPF said it will update the market of potential impact if and when the proposals are finalised and enacted

** Since its close on June 24, IPF’s stock has fallen nearly 17% in value (Reporting by Shariq Khan in Bengaluru)

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