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Banknote places pawnbroking loans on the Mintos marketplace

21.02.2017

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Non-bank credit lender Banknote will now offer secured loans using personal property as collateral (pawnbroking loans) issued in Latvia on the Mintos marketplace. This is a new loan type on the platform, giving investors even more opportunities to diversify their investment portfolio.

The Mintos platform will host Banknote loans averaging from EUR 100 to 5,000 with a repayment deadline of 14 days to 24 months. The annual net return to investors is expected to reach 9.5%.

Banknote already places consumer loans issued in Latvia on the Mintos marketplace.

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ExpressCredit increases share capital to 1,5 m EUR

02.01.2017

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On 29 December, 2016 ExpressCredit shareholders meeting approved decision to increase share capital from 426 861 EUR to 1 500 000 m EUR. Share capital was increased transferring previous year’s undistributed profits and making payment for shares in the amount of 200 000 EUR, keeping the same share proportion among current shareholders.

Agris Evertovskis, Chairman of the Board of the Company, comments on share capital increase: “Share capital increase justifies the shareholder will to strengthen share capital base and finance further growth of the Company”.

On 30 December, 2016 Enterprise register of the Republic of Latvia has registered changes in the charter and…

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New structure for investments in Banknote loans

18.10.2016

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We would like to inform you that, going forward, there is a new structure for investing in Banknote loans. Banknote has extended its license for providing consumer credit services in Latvia for an indefinite period of time. The new structure takes into account limitations imposed by the license.

How will the new process work?

To obtain exposure to Banknote loans, investors will be able to invest in loans issued by Mintos Finance to Banknote where repayments depend on the borrower’s payments. Each loan issued by Mintos Finance to Banknote will be pegged to a respective loan issued by Banknote to the…