AlexCredit Mintos Rating changed to D

28.04.2020

mintosblog

At the end of March 2020, AlexCredit’s loans were suspended from the Primary and Secondary Markets on Mintos due to missed settlement payments to investors on Mintos. AlexCredit was also put on the negative ratings watch.  (more…)

Update on recent Varks licence revocation, situation in Armenia and Finko payments to investors on Mintos

22.04.2020

mintosblog

Comment by CEO of Finko Group, Janis Pizics for investors on Mintos:

Economic situation and Covid-19 impact

It is critical to understand the current economic and social situation in Armenia. Large part of the economy in Armenia consists of tourism and agriculture, and the rapid growth historically was driven by construction and service sector. (more…)

Upcoming: AMA (Ask Mintos Anything) with Martins Sulte

20.04.2020

mintosblog

On Thursday, 23 April 2020 at 11:00 CEST, we’ll be hosting another live-stream session with Mintos CEO Martins Sulte. You can join our 60 minutes “AMA (Ask Mintos Anything)” conversation already today by asking questions that Martins will reply to during the session.  (more…)

Akulaku suspended on Primary and Secondary markets due to late payment settlement; a restructured payments schedule already in place

16.04.2020

mintosblog

In light of a recent announcement of the President of Indonesia on the possible country-wide emergency state, as well as a recommendation of the Financial Services Authority (Otoritas Jasa Keuangan) of Indonesia for banks and alternative lending companies to defer current repayments, there is a possibility that borrowers’ repayments will have to be restructured. Described in detail by the CEO of the lending company Akulaku in Indonesia, Akulaku is experiencing difficulties and hence has missed their settlement payments due on March 31 and April 7 2020, resulting in accumulated pending payments…

Statement from Akulaku on recent events in Indonesia and impact it has had on business

16.04.2020

mintosblog

Comment by CEO of Akulaku, William Li for investors on Mintos:

“Dear investors on Mintos, 

We at Akulaku in Indonesia, pride ourselves on our responsible practices and work to promote financial well-being in the SouthEast Asia area. First, we have to admit that the COVID-19 pandemic and its influence on the Indonesia economy and financial industry is really beyond our expectations.  (more…)

Updated: Letter from ID Finance and IDF Eurasia’s Co-founder, Boris Batine

14.04.2020

mintosblog

April 9, 2020

Comment from Boris Batine, CEO of ID Finance on pending payment days to investors on Mintos

First, in relation to my communication of 7th April, thank you for your kind understanding of the situation we find ourselves in, with states of emergency in Kazakhstan, Spain and Mexico and the resultant impact on our loan service schedules. (more…)

The trend in interest rates explained

14.04.2020

mintosblog

Interest rates on Mintos have shown a strong upward trend over the last weeks. As of April 14, more than 32% of the loans available on the Primary Market have rates of 15% or more. As both average and top rates are rising, we received questions from investors who were curious about the dynamics. Investors want to know how these rates are possible, and whether they are sustainable for the lending companies. (more…)

Comment from Boris Batine, CEO of ID Finance on pending payment days to investors on Mintos, shared on April 9, 2020

09.04.2020

mintosblog

Dear investors on Mintos, 

First, in relation to my communication of 7th April, thank you for your kind understanding of the situation we find ourselves in, with states of emergency in Kazakhstan, Spain and Mexico and the resultant impact on our loan service schedules. 

Many of you have raised questions about our decision to pay interest irrespective of whether we receive it from our customers. I can assure you that our liquidity cushion is strong and sufficient to make this commitment to our investors. You can always send your questions to [email protected]

Mintos working hours during the Easter holidays

09.04.2020

mintosblog

Easter holidays are coming up, and many people have some time off. We wanted to let you know that Mintos Investors Service will be available via email throughout the Easter weekend (10-13 April). Meanwhile, due to bank holidays, some of the money transfers might be delayed.  (more…)

Update on the maximum number of extension periods and days

08.04.2020

mintosblog

Recently, we shared an update on the existing functionality of how we reflect schedule extensions lending companies give to borrowers. It was followed by an additional update on how we reflect the borrowers repayments schedule extensions that are due to governments across the world implementing moratoriums, imposing lending companies to give borrowers more time to repay their loans.

After both updates, we received various questions from investors to be clarified. (more…)

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