PeerBerry to reduce interest rates
PeerBerry will reduce its investor interest rates from 1 March 2023, following a regulation change in Poland and robust loan performance.
From tomorrow, PeerBerry’s returns will range from nine to 12.5 per cent.
The European peer-to-peer lending platform told investors that its partners have opted to “slightly reduce the interest on loans of those companies that demonstrate good indicators, operate profitably, and have contributed significantly to the group’s guarantee mechanism.”
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PeerBerry added that recent regulatory changes in Poland have impacted its Polish lenders, which has also contributed to the rate change.
“Our partners in Poland are among the oldest and most successful companies on the Polish market, so regulation changes will not significantly impact the efficiency of our partners’ performance,” said Arūnas Lekavičius, chief executive of PeerBerry.
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“However, we must comprehensively assess the changing environment and adjust the pricing accordingly to keep our business sustainable.
“Together with our partners, this year, we will focus on operational efficiency, full repayment of war-affected obligations, and business diversification by country.”
Lekavičius noted that the platform will continue to grow its reach, and plans to enter more countries this year.
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