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Mintos updates its lender risk scores in response to Ukraine

Investors are exposed to around €70m worth of Russian loans via Mintos.

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Europe’s biggest loan marketplace Mintos this week updated its risk scores across the lenders on its platform, with several changes related to the war in Ukraine and sanctions on Russia.

Mintos ranks lenders based on factors like loan performance, loan servicer efficiency, buyback strength and the cooperation structure between Mintos and the lender, ultimately resulting in a risk score of between 0-10 (with 10 being the least risky).

In total this quarter, seven lending companies in Russia and one lender in Ukraine had their risk scores withdrawn, as a result of them no longer listing loans on Mintos as part of the marketplace’s exclusion of Russian and Ukrainian platforms in February.

Lenders with their scores withdrawn include Creditter, DoZarplati, EcoFinance, Kviku, Lime Zaim, Mikro Kapital and Mokka in Russia, and SOS Credit in Ukraine.

While Mintos excluded Russian and Ukrainian loans from late February, its investors remain exposed to the existing loans that were facilitated via its platform.

Last week Mintos said its investors had around €70m worth of exposure to Russian loans, around 15 per cent of the total outstanding investment on Mintos.

Later this week Mintos is due to publish another update detailing the various scenarios it anticipates when it comes to the future of funds owed to Mintos investors by the borrowers of Russia-issued loans.

“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,” the company wrote on its blog.

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