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Consumer credit provider International Personal Finance reported a rise in third-quarter credit issued amid an ongoing uptick in credit demand.
In Q3, credit issued increased 35% year on year as the company added a further 36,000 new customers.
Closing receivables were up 8% since the year end, and the company said it expects this growth trend to continue for both credit issued and receivables in the final quarter of the year which woudl, in turn, drive further revenue growth.
'Our strong collections performance and higher-quality lending resulted in a 25.4% improvement in annualised impairment as a percentage of revenue since the 2020 year end to 12.0%,' it added.