European platforms give updates on war-affected loans

European peer-to-peer lending marketplaces PeerBerry and Mintos have reported more repayments of war-affected loans.

PeerBerry said in a blog post that €31m (£27.4m) of loans impacted by the Ukraine-Russia war have now been repaid to investors, equating to 62 per cent of the total war-affected obligations towards PeerBerry investors.

This is up from €29m in mid-December.

Read more: PeerBerry investors funded €537.5m in loans last year

Meanwhile, Mintos said that €6.6m has been recovered from Russian lending companies to date.

This includes €5.2m recovered from Russian lender Revo, out of €15.3m, and €1.1m recovered from Mikro Kapital, out of €1.4m.

Read more: Mintos investors earned €36m in interest last year

“Over the last months we, together with lending companies, have been working extensively to make repayments of investors’ investments from Russia possible,” said Mintos in a blog post on its website.

“At this moment, all but one lending company has signed the necessary agreements, which was a prerequisite to make the allowed payments.”

After Russia’s invasion of Ukraine in February 2022, Mintos removed loans from Russian and Ukrainian lending companies and has been working to recoup outstanding investments from war-affected loans.

It has predicted a 15 per cent drop in revenue from its lending companies due to the impacts of the war.