In a statement covering the first three months of 2014, the lender said the rise in pretax profit was driven by strong growth in credit issued and good credit quality.
Revenue increased to
"In early April we successfully refinanced our eurobond at a materially lower cost and today's announcement of a share buyback of approximately
However, the lender has had to pay close attention to the debate in a number of its European markets where regulators are looking at rules on interest rate caps.
There are proposals for rate caps in
The decision led to a fine of about
"We also have a good track record of evolving our products and services to meet new regulatory requirements. We do not expect any of these matters to have a material impact on our business performance or growth prospects,"
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