We are delighted ti announce that the Polish financial supervision authority, the Komisja Nadzoru Finansowego (KNF), has granted our Polish home credit operation, Provident Polska, a full payment institution licence. This is a significant step forward as the new licence will enable the Group to issue a greater volume of credit cards with immediate effect and therefore accelerate customer lending growth in Poland.
Provident Polksa is one of the first Polish Non-Bank Financial Institutions (NBFI) to be given this status.
Commenting on the new licence, CEO Gerard Ryan said: "The customer response to our new credit card offering has been fantastic. With this new licence, we will be able to expand access to even more customers, allowing them to shop online, in retail stores or access cash through their customer representative or an ATM. Based on the success we have seen so far, we believe there's strong potential to introduce this credit card product to our other markets in the future."
