International Personal Finance has lost around a fifth of its value after the emerging markets lender revealed an unexpected change in consumer legislation in Slovakia, a move which could hit its business in the country.
Almost two years after Poland gave the company an unwanted Christmas gift in the form of a £2.4m fine and around three months since Poland placed a cap on all non-interest costs of credit, Slovakia also plans changes to loan legislation.
The proposals – which had not previously been discussed – were revealed just before the market closed on Thursday, following a vote in the Slovak parliament. IPF’s shares are currently down 21% or 68.8p to 253.7p, having fallen as low as 230p earlier. Details