Mintos to reveal Russia loan repayment prospects
Mintos investors are set to learn about the prospects for the recovery of funds lent in Russia later this week.
The alternative investment marketplace has said it is working on detailed insight to provide users as the Russian invasion of Ukraine reaches its second month.
Mintos has already removed loans from Russian and Ukranian lending companies and warned it is facing a 15 per cent drop in revenue due to the conflict.
It has also warned that some Russian lending companies may struggle to meet repayments due to international financial sanctions.
Mintos said it is working on a report to highlight the main current challenges it is facing for payments and what kind of scenarios it can anticipate when it comes to the future Russian funds.
Read more: How European P2P lenders are protecting investors from war in Ukraine
“The troubles of international financial market players in relation to Russia also translate to Mintos as an investment firm with long and successful business relations with the Russian lending companies over the course of the past seven years,” Mintos said in a blog update.
“The ban on foreign currency transfers also includes the lending companies that previously offered loans for investments on Mintos.
“While we can’t predict the outcomes of the war or its end, we are working daily to assess possible ways for debt management going forward, while being compliant with sanctions and applicable regulations.”