Financial Services, Latvia, Loan
International Internet Magazine. Baltic States news & analytics
Friday, 26.04.2024, 04:58
Loans worth EUR 1.28 bn financed through Latvian P2P lending platforms in 2018
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Of that amount, EUR 1.04 bn worth of investments were made
via Mintos P2P lending marketplace.
“The P2P lending platforms created in Latvia have been
increasingly strengthening their foothold in the European market. The
companies’ operations have been growing for the second consecutive year,
promoting the financial sector’s efficiency and proving Latvia’s ability to
compete internationally,” said Gints Abolins, head of the Alternative Financial
Services Association of Latvia.
Following global trends, the P2P platforms advanced to the
maturity stage in 2018, the association’s representatives said. Last year
provided growth opportunities to large companies, while small platforms either
stagnated or folded operations.
While until now fintech companies basically focused on
developing one particular product, now they are considering expanding their
product portfolios. The trend is also characteristic of P2P lending platforms
and is likely to increase this year.
The Alternative Financial Services Association of Latvia
units non-bank enterprises providing financial services in Latvia.
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