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Creditea reaches 10,000th loan milestone in Mexico

IPF Digital, the digital lending business of International Personal Finance Plc (‘IPF’), is pleased to announce that it has issued over 10,000 loans in Mexico following the launch of its Creditea brand.

Established in September 2016 to appeal to the growing number of Mexican consumers looking for online loans, Creditea is helping IPF to reach more customers in its target segment and take advantage of an online lending market which, although small, is growing at a rapid pace.

In order to realise the significant potential of the Mexico market, the Creditea team, based in Mexico City, will manage growth conservatively as they build solid foundations for future growth.

Creditea is a cornerstone brand of IPF Digital, IPF’s fast-growing online consumer credit business, which operates across eight markets worldwide, including Spain, Poland and Australia. IPF Digital provides instalment loans and a revolving credit line facility with manageable credit limits which are repaid monthly over terms of up to three years. It often takes less than 15 minutes from successful application to customers receiving loans in their bank account.

Leveraging continuing smartphone, internet and social media penetration worldwide and associated increasing demand for digital credit, IPF Digital now serves over 212,000 customers and remains a key strategic growth priority for IPF; one that complements its successful agent-delivered home credit operations.

“IPF Digital continues to deliver robust growth, with credit issued in the first quarter of 2017 increasing 61% on the same period the previous year“, commented Rami Ryhänen, General Manager of IPF Digital.

 “The strong traction we are seeing in our newest market of Mexico illustrates the universal appeal of our convenient and easy-to-understand digital products, and captures a growing demographic of customers who prefer to take out and repay loans online.”

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

Antonia Powell +44 20 3727 1485 / +44 7711 264 157