Leeds-based listed home credit business, International Personal Finance (IPF), has reported a robust group performance for the third quarter as it continues to expand overseas.

The trading update for the quarter shows a 1% rise in credit issued and European home credit growth of 6%. The company says that it is on track to meet its full-year 2019 pre-tax profit targets.

The IPF update states: “We continue to deliver well against our strategy of improving the sustainability of our home credit businesses in Europe by creating more modern, efficient and better credit quality operations.

“The excellent operational execution delivered by our teams in these markets resulted in 6% growth in credit issued year-on-year reflecting our strategy of issuing slightly longer-term loans to our better-quality customers.

“Customer numbers were 1,012,000 and the rate of contraction of 9% is consistent with the 2019 half-year.”

Commenting on its 2019 outlook, IPF said it expected to see European home credit continuing to deliver a strong operational performance, with the company focussing on delivering an improved operational performance in Mexico.

IPF, which specialises in providing unsecured consumer credit, serves over two million customers across 11 markets. The company operate the world’s largest home credit business as well as a leading fintech business, IPF Digital.