22nd Dec 2015 09:22
LONDON (Alliance News) - International Personal Finance PLC on Tuesday said it is evaluating alternative business models for the Slovakian market, after the passing of new consumer legislation that stands to hurt the lender's business there.
The proposed draft amendments to consumer legislation were vetoed by the nation's president, returned to parliament where further changes were made and the amendments re-approved. The Slovakian president has now signed the amended legislation, meaning it is set to become effective imminently.
International Personal Finance said the final legislation is in line with previous expectations, which will result in a "material adverse financial impact" on its existing Slovak business.
Shares in International Personal Finance were down 5.0% at 278.40 pence on Tuesday morning.
By Samuel Agini; [email protected]; @samuelagini
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