August 18, 2026
ISP Finance Services Limited (ISP)
Unaudited financials for the six months ended June 30, 2026:
ISP Finance Services Limited (ISP) for the six months ended June 30, 2026, reported a 14% decrease in Total interest income totalling $163.76 million compared to $191.30 million for the corresponding period of 2025, with interest income from loans declining to $163.76 million (2025: $191.30 million). Total interest income for the second quarter declined 13% to close at $80.56 million relative to $92.10 million for the comparable quarter of 2025.
Interest expenses amounted to $32.59 million (2025: $25.07 million), an increase of 30% year over year, while interest expenses for the quarter rose 46% to $18.35 million (2025: $12.53 million). Consequently, Net Interest Income declined 21% to $131.17 million compared with $166.24 million for the six months ended June 30, 2025. The Company booked Net Interest Income of $62.21 million for the second quarter, a 22% reduction versus $79.56 million reported for the similar quarter of 2025.
Commission expenses on loans declined 22% to $4.98 million (2025: $6.42 million). As such, net operating income after interest expenses and commissions totalled $126.19 million, a 21% decrease relative to $159.82 million in 2025, while for the quarter it declined 21% to $59.96 million (2025: $76.30 million).
Other operating income amounted to $20.84 million, a 8% reduction relative to $22.58 million reported in 2025, comprising other income of $19.70 million (2025: $22.58 million) and a gain on the sale of financial assets of $1.14 million (2025: nil). For the quarter, other operating income declined 13% to $14.44 million (2025: $16.58 million).
Consequently, Total operating income for the six months ended June 30, 2026, amounted to $147.02 million, a 19% decline relative to $182.39 million reported in 2025. Total operating income for the quarter was $74.39 million (2025: $92.87 million).
Operating expenses for the six months totalled $144.48 million, a 9% reduction relative to $159.22 million reported in 2025. The Allowance for credit losses declined 48% to $30.00 million (2025: $57.20 million) and Depreciation expense fell 18% to $3.08 million (2025: $3.75 million), while Staff costs rose 10% to $49.51 million (2025: $45.04 million) and Other operating expenses increased 16% to $61.89 million (2025: $53.22 million). For the quarter, operating expenses declined 12% to $76.48 million (2025: $86.98 million).
As a result, Profit before Taxation for the six months ended June 30, 2026, amounted to $2.54 million, an 89% decline relative to $23.17 million reported in 2025. For the second quarter, the Company recorded a Loss before Taxation of $2.09 million relative to a profit before taxation of $5.89 million for the comparable quarter of 2025.
Taxation for the six months amounted to $423,683, an 89% decline relative to $3.86 million reported in 2025, while a tax credit of $348,362 was recognised for the quarter (2025: charge of $981,631). As such, Net Profit for the six months ended June 30, 2026, had an 89% decrease to reach $2.12 million (2025: $19.31 million). For the second quarter, the Company booked a Net Loss of $1.74 million relative to a Net Profit of $4.91 million reported for the similar quarter of 2025.
Consequently, Earnings Per Share for the six months amounted to $0.020 (2025: EPS: $0.184), while Loss Per Share for the quarter totalled $0.017 (2025: EPS: $0.047). The twelve-month trailing EPS was $0.0015, and the number of shares used in these calculations was 105,000,000.
Notably, ISP’s stock price closed the trading period on August 17, 2026, at a price of $7.08 with a corresponding P/E ratio of 4,629.84x, reflecting the sharp contraction in trailing earnings.
Balance Sheet Highlights
The Company’s assets totalled $1.50 billion (2025: $1.25 billion), an increase of 20% or $253.84 million. Notably, Cash and cash equivalents led the growth in total assets with an increase of $184.00 million to close at $270.42 million. Loans net of provisions for credit losses advanced $62.82 million or 6% to $1.15 billion, Right-of-use assets increased $23.83 million to $25.27 million, Property, plant and equipment rose $10.11 million or 44% to $33.35 million, and Deferred tax assets increased $720,569 to $1.18 million. These increases were partly offset by a $15.00 million or 60% reduction in Marketable Securities and Investments to $10.00 million and a $12.64 million or 52% decline in Other receivables to $11.51 million.
Shareholder’s equity was $660.04 million (2025: $659.88 million), broadly unchanged year over year, representing a book value per share of $6.29 (2025: $6.28).
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