28th Jun 2019 09:45
(Alliance News) - Home credit provider International Personal Finance PLC on Friday said the Polish government has further amended draft proposals to reduce existing cap on non-interest costs charged by lenders for consumer loans.
Shares in the company were 14% lower at 127.97 pence each in morning trade.
The company said the latest modified draft proposals calls for a flat level cap of 10% of the loan value, currently 25%. It also seeks to reduce the additional cap per year to 10% from 30% currently.
The combined total of the flat 10% and the time-dependent 10% per year would not be able to exceed 75% of the loan value, currently 100%, the draft proposals stipulates.
IPF said it will be actively discussing the proposals to seek a more positive outcome for consumers and businesses.
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