Twino to refocus on European and Asian loans amid Russian sanctions

European peer-to-peer platform Twino has announced plans to increase investment opportunities in loans from European and Asian operations, and to increase real estate loans, after reducing its exposure to the Russia market.

In an update to investors, Twino said that it will be reporting more frequently on its plans to mitigate the impact of Russian sanctions on its loan book.

Russian loans make up approximately 20 per cent of Twino’s loan base at present.

Last week the Latvia-based lender said that it had created an internal task group to monitor loans with exposure to Russia, as the Russia/Ukraine conflict intensifies.

“In order to protect Twino investors from taking on increased risks, a decision has already been made to significantly reduce the amount of loans with the currency exposure functionality being listed,” the company said in a blog on its website.

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“Given the currency market volatility observed in recent days, we urge you to carefully evaluate your decision to invest in loans with the currency exposure functionality. Investors are also encouraged to check the settings of the existing auto-invest portfolios to ensure that they are in line with your chosen investment strategy.”

Twino added that its focus was on maintaining liquidity and financial stability for its investors. The platform’s Russian lender “continues to tighten risk policy conditions to further improve the quality of its loan portfolio”, and no new loans are being offered to its customers.

The platform added that it has teamed up with other fintech companies and Latvian businesses to financially support Ukraine, and aims to raise at least €5m (£4.13m) “in the shortest possible time.”

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