**Summary of International Personal Finance Plcs 2025 Final Results and Accounts**
**Overview**
International Personal Finance (IPF) reported strong financial and strategic progress for the year ended 31 December 2025, driven by robust operational delivery and its Next Gen strategy. The Group achieved pre-exceptional profit before tax of £88.6 million (2024: £85.2 million), supported by increased customer numbers, lending growth, and improved credit quality. A final dividend of 9.0 pence per share was proposed, bringing the full-year dividend to 12.8 pence per share.
**Key Financial Highlights**
**Customer Growth**Customer numbers increased by 4.7% to 1.7 million, marking the first year of growth in a decade.
**Lending and Receivables**Customer lending grew by 11.8% to £1,342.0 million, and closing net receivables increased by 13.9% to £1,061.3 million.
**Credit Quality**The impairment rate improved to 9.0% (2024: 9.6%), reflecting robust customer repayment performance.
**Dividend**A 12.5% increase in the final dividend to 9.0 pence per share, with a full-year dividend of 12.8 pence per share.
**Strategic Progress**
**Next Gen Strategy**Significant advancements in product expansion, digital capabilities, and operational efficiency.
**Product Innovation**Launched ProviSmart credit cards in Poland and a pilot in Romania, expanded retail partnerships, and introduced short-term loan products in Mexico and Poland.
**Geographic Expansion**Opened new branches in Monterrey and Ensenada, Mexico.
**Technology and Data**Invested £35.2 million in technology to enhance customer experience, automation, and data-driven decision-making.
**Proposed Acquisition by BasePoint**
The Board recommended a proposed acquisition by IPF Parent Holdings Limited (BasePoint) at an increased offer value of 250 pence per share, inclusive of a 15 pence per share special dividend. This represents a 40% premium to the closing price on 29 July 2025.
**CEO Commentary**
Gerard Ryan, CEO, highlighted the Groups accelerated growth and strategic execution, emphasizing improved customer demand, disciplined operations, and strong credit quality. He noted the Groups strong funding position and commitment to financial inclusion.
**Outlook**
IPF expects to sustain growth momentum in 2026, supported by robust credit quality, a strong balance sheet, and continued investment in key markets like Mexico and Australia. An additional £5 million per annum will be invested in new initiatives over the next two to three years to drive medium-term performance.
**Financial Review**
**Divisional Performance**Provident Europe, Provident Mexico, and IPF Digital all delivered strong growth in customer lending and receivables.
**Revenue and Costs**Revenue yield decreased slightly to 52.5%, while the cost-income ratio remained stable at 61.1%.
**Returns**Pre-exceptional RoRE moderated to 14.9%, reflecting investments in growth initiatives.
**Regulatory Update**
IPF continues to monitor and adapt to regulatory changes, particularly the implementation of the second Consumer Credit Directive (CCD II) across European markets.
**Conclusion**
IPFs 2025 results reflect strong operational and financial performance, underpinned by strategic initiatives and a focus on financial inclusion. The proposed acquisition by BasePoint marks a significant milestone, offering shareholders attractive value. The Group remains well-positioned for sustainable growth and continued progress toward its long-term goals.
| Metric | FY-25 (£m) | FY-24 (£m) | YoY Change (£m) | YoY Change (%) |
|---|---|---|---|---|
| Customer numbers (000s) | 1,729 | 1,652 | 77 | 4.7% |
| Customer lending (£m) | 1,342.0 | 1,214.5 | 127.5 | 10.5% |
| Closing net receivables (£m) | 1,061.3 | 870.0 | 191.3 | 22.0% |
| Pre-exceptional PBT (£m) | 88.6 | 85.2 | 3.4 | 4.0% |
| Statutory PBT (£m) | 85.3 | 73.3 | 12.0 | 16.4% |
| Full-year dividend per share (pence) | 12.8 | 11.4 | 1.4 | 12.3% |
| TNAV per share (£) | 2.14 | 1.87 | 0.27 | 14.4% |
| Revenue (£m) | 737.5 | 726.3 | 11.2 | 1.5% |
| Impairment (£m) | (126.8) | (127.5) | 0.7 | 0.5% |
| Interest expense (£m) | (71.3) | (70.4) | (0.9) | (1.3%) |
| Total debt facilities (£m) | 750 | 656.9 | 93.1 | 14.2% |
| Net borrowings (£m) | 621 | 515.9 | 105.1 | 20.4% |
| Equity to receivables ratio (%) | 51% | 54% | (3%) | (5.6%) |