Updated: Pending payments – average days and percentage of outstanding investments by lending company as of 29 May

29.05.2020

mintosblog

To improve communication about pending payments, we will share with you a weekly update with the most important statistics for each lending company.  (more…)

28 May update: Status of the defaulted lending companies and the recovery of invested funds

28.05.2020

mintosblog

Following the update from 30 March and update from 30 April, we share news on the developments in the last month on each defaulted lending company.  (more…)

Investors received €71M net transfers from borrowers’ repayments during March and April

14.05.2020

mintosblog

So far, 2020 has been a year like no other. We moved quickly to adapt to the new economic climate that came as a result of the COVID-19 pandemic, and continue working closely with the lending companies on our Mintos platform to make sure they do the same. (more…)

April 30 update: Status of the defaulted lending companies and the recovery of invested funds

30.04.2020

mintosblog

Following the last update from March 30, we share news on the developments within the last month on each defaulted lending company.  (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…)

Pending payments – average days and percentage of outstanding investments by lending company as of 2 April

02.04.2020

mintosblog

To improve communication about pending payments, we will share with you a weekly update with the most important statistics for each lending company.  (more…)

Followup statement from Finko on recent Varks licence revocation

01.04.2020

mintosblog

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

“Following up on my earlier message to investors on Mintos on the Board of the Central Bank of the Republic of Armenia (CBA) revocation of license for the lending company United Credit Joint Stock Company (Varks), there are couple developments to share as well as answers to questions about Finko I’ve seen on the Mintos blog.” (more…)

Update: Finko AM (Varks) licence revoked in Armenia

26.03.2020

mintosblog

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…)

Statement from Finko on recent Varks licence revocation

26.03.2020

mintosblog

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.

Finko Group’s 2019 Financial Results and Business Update

20.03.2020

mintosblog

Financial results

Finko Group, a technology-driven online and offline lender operating across multiple markets worldwide and the largest loan originator listed on the Mintos platform, has passed the €136 million revenue mark, recording substantial growth over the prior year. The Group’s net profit in 2019 amounted to €17.6 million.  (more…)

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