Nibble.finance raises the interest rateLess than a minute to read Print
Since the 1st of February 2021, we raise interest rate for investors of Nibble.finance up to 9.7% for Classic strategy and up to 14.5% for Balanced strategy.
The most significant issue of the past 2020 was the pandemic topic. All of us were in a challenging situation, all the world community, all the world business as a whole. No one still knows when and how this situation will be solved, but we hope as soon as possible.
We were attentively monitoring the situation on the markets and ready for the worst possible things that could happen. Despite the coronavirus crisis in 2020, lending company Joymoney Russia, which is the part of the IT Smart Finance holding with Nibble, demonstrated positive dynamics.
IT Smart Finance permanently works on improvement of scoring algorithms, to more accurately rate borrowers and improve the performance.
At the Risk Committee meeting on January 29, 2021, we analysed the work performance of lending companies for the 2020 year and marked the growth: Joymoney Russia increased volumes of issued loans in the second half-year more than by 65% regarding the first half-year 2020. Company`s net profit grew in 2020 by 1.6 times comparing to 2019.
Against the background of positive growth in indicators, the Committee made a decision to raise interest rate for Classic strategy up to 9.7%, keeping buyback guarantee of all loans for this strategy, and up to 14.5% for Balanced strategy.
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