Mintos updates risk scores following war in Ukraine
Mintos has updated its risk scores for several lending companies as a result of the Russian invasion of Ukraine.
The European lending marketplace rates its lending companies on their loan servicer efficiency, portfolio performance, buyback strength and the cooperation structure between Mintos and the business, giving sub scores for each category and an overall Mintos risk score.
The risk score ranges between one and 10, with 10 representing a low risk and one indicating the highest risk. The platform updates these ratings every quarter.
Read more: Mintos to reveal Russia loan repayment prospects
The platform said as of 24 February it limited access to loans from Russia and Ukraine on its primary market and because of this its risk score was withdrawn for seven Russian lending companies, Creditter, DoZarplati, EcoFinance, Kviku, Lime Zaim, Mikro Kapital and Mokka, and one Ukrainian lending company, SOS Credit.
The only lending company in Belarus active on Mintos is the Eleving Group’s Belarusian entity whose risk has not been changed.
The platform first stopped listing new loans from this entity on its primary market and said currently there is no heightened threat for lenders’ exposure in these loans, as this exposure is hedged, and the entity’s portfolio situation in the fourth quarter has not worsened compared to previous periods.
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Furthermore, as well as the eight lending companies from Russia and Ukraine, the Mintos Risk Score was withdrawn for six other companies, including AlfaKredyt, Credissimo, TasCredit and Stik Credit, as they are not active on Mintos and do not have outstanding investments.
The risk score was upgraded for two lending companies and downgraded for one.
Mintos last updated its risk scores in October.