International Personal Finance has recorded a significantly improved financial performance

International Personal Finance today said it had recorded a significantly improved financial performance and its dividend has been restored.

International Personal Finance has delivered a trading update for the City

International Personal Finance, provides unsecured consumer credit to 1.7 million customers across 11 markets. It operates the world's largest home credit business and a fintech operator, IPF Digital .

In the half year ended 30 June 2021, International Personal Finance achieved group profit before tax of £43.3 million and all its divisions were profitable.

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International Personal Finance said it had made very good progress towards rebuilding the business and serving customers safely.

Gerard Ryan, chief executive officer at IPF, said: "Our business plays a very important role in society by providing credit responsibly to those who are underbanked or underserved and, against a challenging backdrop of frequently changing lockdown restrictions, our teams have worked hard to serve our customers safely and rebuild our business.

"I am very pleased to report a significantly improved financial performance, with the group delivering £43.3 million profit in the first half of the year.

"Demand for credit is beginning to recover in our segment and we are well positioned to meet the significant longer-term demand for affordable credit from the consumers we serve and deliver long-term value to our stakeholders. Based on our rapid and sustainable return to profitability and the undoubted strength of our balance sheet, the board has recommended a resumption of dividend payments to shareholders."