Newsfeed

#Mintos : Wowwo loans suspended from the Primary and Secondary Markets.

$Robocash improve interest payments for long-term loans.

"..starting from December 16, 2021 (inclusive), investors who have purchased long term loans for a period of 90 days and longer will be receiving monthly interest payments every 30 days. The starting point for the payments will be the date the loan was purchased."

Zopa Bank will be buying the P2P loan portfolio and investors will receive their investment balances back by the end of January.

As reasons for the closure Zopa mentions that customer trust in P2P investing has been damaged by some other businesses whose approach led to losses for investors. They add that the changing regulation has increased the operational costs of running the business and attracting new investors. ''To offset these increased costs and ensure we have a sustainable and profitable business, we’d need to reduce investor returns to a point where they’d no longer be attractive and commensurate with the risk that investors take on.''

More info: www.zopa.com/blog/article/an-update-on-p2p-at-zopa

The reason for the qualified opinion is that the company had revalued upwards the value of intangible assets in both 2019 and 2020, which is not permitted under the Estonian accounting standards.

Starting from today there will be no fees when investing in newly published projects on the primary market. Read more information about this in the latest blog article: bit.ly/30JEI3f

Creditstar - key figures:

Profit = € 2.1m

Assets = € 188.0m

Equity = € 38.3m

Debt = € 149.7m

Iute Credit - key figures:

Profit = € 4.4m

Assets = € 130.0m

Equity = € 23.7m

Debt = € 106.3m

The full reports can be viewed here: p2p.holdings/mintos/loan-originators

#iutecredit #Creditstar $Lendermarket