Mintos returns averaged 14.2pc during “rollercoaster” August

Mintos reported average returns of 14.2 per cent in August, despite “a rollercoaster of a month” which saw inflation rise to 9.1 per cent across the Eurozone.

The European peer-to-peer lending platform noted that by the end of last month, the interest rate for Euro-denominated Mintos Notes stood at 14.2 per cent.

Loan supply remained steady at between €20m (£17.15m) and €30m weekly, while loans available for investment remained stable at around €100m.

Read more: Mintos sees monthly lending fall to €35m

“Average weekly investments increased from €9m in July to €11m in August,” said Peteris Mikelsons, head of partnerships at Mintos.

“We believe this growth is linked to growing demand and our (almost) full transition of lending companies to the new Notes setup.”

Read more: Mintos lending company reports rising profits

Approximately 285,000 loans were funded in August, with a value of €52.9m. Investors on Mintos earned around €3m in interest, while the top three markets for investments in loans were Latvia, Kazakhstan, and Spain.

In its August report, Mintos noted that European investors have been coping with rising inflation, stock market uncertainty, and an unprecedented growth in energy prices.

Year to date returns for the S&P 500 were -15.5 per cent by the end of August, while the STOXX Europe 600 was down by 11.9 per cent.

Read more: Mintos stops working with UK litigation finance firm