Following the update from 30 March and update from 30... Read more →
Due to failing to make timely settlement payments for investors on Mintos, we have made a decision to suspend loans originated by the lending company Alexcredit from the Primary and Secondary Markets on Mintos, until further notice.
“We live in very uncharted times and territory, unexperienced before,” said Martins Sulte, Co-founder and CEO of Mintos at the beginning of his 100 minutes long live-streamed YouTube talk to investors on Friday, March 20, 2020. (more…)
With the COVID-19 situation taking its toll on the global economy, many investors may feel unsure about how to react to the current market downturn.
At Creditstar we understand that these can be challenging times for everyone. Not only are people concerned for their health, but it is, understandably, a disorientating time for P2P investors. However, the message from Creditstar is to keep calm and capitalise on higher interest levels offered by loan originators. Here’s how we recommend investors to navigate financially through these uncertain times. (more…)
On 24 March 2020, the Board of the Central Bank of the Republic of Armenia (CBA) published a revocation of license for the lending company United Credit Joint Stock Company, which operates under the brand name Varks. Varks, as a part of the Finko group, is represented as Finko AM on the Mintos marketplace. (more…)
Below is a comment we share with investors on Mintos from the CEO of Finko Group, Janis Pizics:
“According to the announcement of the Central Bank of Armenia, the license for business of the lending company United Credit Joint Stock company, represented by a brand name Varks, is revoked. This comes as a significant surprise both to the local team as well as to FINKO Group. The reason for revoking the license given in the statement by the Central Bank of Armenia is capital inadequacy.
We’re happy to share good news about Monego: the claims we filed with the Monego liquidator appointed by the Central Bank of Kosovo (CBK) on behalf of our investors have been partly satisfied. The liquidator made a first € 2 000 000 payment yesterday, 24 March 2020, which has been allocated to investors on Mintos with active investments in Monego loans. Investors who have waited the longest were repaid first. (more…)
In a perfect world, money could be moved in moments and investors would receive their repayments instantly. Unfortunately, international financial systems are not yet fully globalized, and smooth, instant settlement¹ is not always possible for multiple reasons. In simple terms, money transfers – especially international transfers – take time, hence the payment becomes pending. But what does this mean exactly, and why is your money sometimes “on hold” for several days? (more…)
Update 24 March
IFN Extra Finance Mintos Rating will be downgraded for now from B to C, as the company has a limited competitive position and will not issue new loans. The new rating is effective immediately, until further notice.
We have been informed that the National Bank of Romania has revoked the licence of IFN Extra Finance.
The revocation of licence and exclusion from the General Registry and the Special Registry of the Non-bank Financial Institutions of Romania prohibits further lending activity of IFN Extra Finance. Read more