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Provident Hungary celebrates 15 year anniversary

Provident Hungary, part of the International Personal Finance (IPF) group is celebrating its 15 year anniversary. A leading provider of home credit, Provident Hungary has served over 1.3 million customers since launching in October 2001.

Provident, which is also one of largest employers in Hungary, employs over 3,500 people, including its home credit agents who meet customers in their homes in more than 3,000 communities across the country. 

Provident offers customers a range of home credit and other products to meet their everyday needs. In line with IPF’s strategy, Provident Hungary has a strong focus on delivering efficiencies as well as product diversification to attract new and retain existing customers including monthly repayment plans and optional personal accident protection services.

Botond Szirmak, Country Manager of Provident Hungary, commented: “Our 15 year anniversary is an exciting landmark to have reached as we celebrate providing loans responsibly to people who want to borrow small sums and repay in manageable, affordable amounts.

“During the last 15 years we have issued more than 5 million loans agreements and I’m delighted that over 90% of our customers are satisfied with their experience. Furthermore, I’m proud that we have won the Hewitt Best Employee Award on two separate occasions, plus the prestigious Excellence in Customer Service Award an unprecedented four times.

 “We look forward to welcoming more customers to the business as we continue to leverage our Hungarian Superbrand status and committed workforce going forwards.”

Gerard Ryan, CEO of IPF said: “As one of our established home credit business we remain focused on delivering efficiencies and maximising the value generated while attracting customers through product development. I’m very pleased with what we have achieved since we launched Provident Hungary 15 years ago and the team is well positioned to deliver continued success.”

For the six months ended 30 June 2016, IPF’s Southern European business, which includes Hungary, Romania and Bulgaria, had 665,000 customers and credit issued increased year-on-year by 22%.

Ends

Investor relations and media contacts: 
International Personal Finance

Rachel Moran - Investor Relations
+44 (0)7760 167637 / +44 (0)113 285 6798
Nick Jones – Media 
+44 (0)7876 138581 / +44 (0)113 2856815

FTI Consulting
Neil Doyle
+44 20 3727 1141 / +44 7771 978 220
Jess Colman
+44 20 3727 1102 / +44 7515 597868