In the latest Insight report, Mintos takes a look at how alternative lending has been gaining momentum.
They focus on Southeast Europe (SEE), which in recent years has “seen the emergence of non-bank financial institutions offering accessible and convenient financial services.”
Mintos delve into the economic statistics and financial overview of Albania, Bulgaria, Moldova, and North Macedonia, and “examine the alternative lending ecosystem in each of these countries.”
The four countries that they have chosen to highlight “have undergone significant political and economic changes in the past decades, transitioning from centrally-planned economies to market-oriented ones.”
Despite these changes, these countries “face several challenges in terms of their economic development, including low GDP and high inflation rates.”
Mintos shed light “on the current state and future prospects of alternative lending in this region and provide valuable insights for investors on Mintos.”
For more details on this update, check here.
While total investments slightly dipped overall month-on-month, January “had three extra days compared to February (31 calendar days vs 28).”
In January, the average daily investment “was €2.52 million, whereas in February it was €2.56 million, indicating a slight increase in the daily average.”
As a result of this increase in demand for Notes, there has “been a slight decrease in the interest rate.”
In January, “the interest rate was at 13.5% whereas in February, it decreased slightly to 13.3%.”
Peteris Mikelsons, Head of Partnerships, said:
“This trend may continue going forward, and we may see a further decrease in the interest rate due to an increase in investments coming in from new investors. However, any decrease in the interest rate is unlikely to be significant and will likely fluctuate around the current rate at 13%.”
As noted in the update, Mintos launched “a new Overdue page to improve transparency around overdue payments.”
This page shows you “a breakdown of your payments that are in recovery and the recovered amounts.” It replaces the current “In Recovery” page on your Mintos account and can be accessed the same way.
From the Overdue page, you have “access to background information, an explanation of the new, more detailed case statuses, as well as the reports you’re used to.”