Average Mintos returns increased to 14.2pc in October
Mintos investors earned an average return of 14.2 per cent in October, representing a slight increase on the previous month, the platform has reported.
According to the latest statistics from the European peer-to-peer lending platform, during October investments continued to increase, reaching around €14.9m (£12.99m) per week compared to €13m in September.
Investors earned €3.4m in interest payments last month, compared with €3m in September. This brings the total amount of interest earned to date to €207m.
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In total, more than €8.3bn has now been invested via the platform, with €64.8m invested during the month of October alone.
The P2P lender also used its monthly update to highlight the opportunities in the Latvia market, which it described as “a fast-growing tech hub.”
Mintos pointed out that Latvia’s GDP growth for 2022 is expected to reach 3.9 per cent, in part due to its booming tech sector.
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The country has 315 start-ups per million inhabitants, compared with the average of 237 in the rest of Europe. Among these are market-leading alternative lending companies, Mintos said.
More than 920,000 non-bank loans were issued in Latvia last year, equalling almost €580m.
Mintos noted that the sector has already recovered from the Covid crisis, and said that “the portfolios of alternative lenders are the strongest they’ve been since 2013.”
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