For doorstep lenders, political risk is clear and present. Just ask International Personal Finance (IPF).
IC TIP:
Hold
at
369p
In Poland, IPF's major area of operations, political machinations around incoming consumer finance legislation now mean non-interest fees on loans will be subject to a flat level of 25 per cent of the loan value, and an annual cap of 30 per cent per year. That is in addition to an interest rate cap of four times the central bank lending rate. Shares in IPF lost a quarter of their value on the day the market got wind of the change, which is still subject to the agreement of the country's upper chamber.
