International Personal Finance Plc, a U.K. lender that makes unsecured loans to low-income households in central and eastern Europe and Mexico, may start operating in Bulgaria this year.

"Ukraine and Bulgaria are our top priorities," Chief Executive Officer John Harnett said in a telephone interview for Bloomberg agency. "Our focus is on emerging markets and we are trying to find markets that are moving into the growth phase."

International Personal Finance typically makes loans of 200 pounds to 500 pounds at interest rates of as much as 25 percent, Harnett said.