Varks commits to a repayment timeline to cover outstanding payments

12.06.2020

mintosblog

Finko AM (Varks), a part of Finko Group, has proposed a commitment to follow a repayment timeline to cover the amount due to investors on Mintos by the end of 2022.  (more…)

Update on recent Varks licence revocation and the situation in Armenia

12.06.2020

mintosblog

Comment by CEO of Finko Group, Janis Pizics for investors on Mintos:

As mentioned in the previous post, Armenia has been significantly affected by the Covid-19 pandemic and it has left a significant effect on the economy, as well as people’s ability to repay their debts.  (more…)

Update on recent Varks licence revocation, situation in Armenia and Finko payments to investors on Mintos

22.04.2020

mintosblog

Comment by CEO of Finko Group, Janis Pizics for investors on Mintos:

Economic situation and Covid-19 impact

It is critical to understand the current economic and social situation in Armenia. Large part of the economy in Armenia consists of tourism and agriculture, and the rapid growth historically was driven by construction and service sector. (more…)

Followup statement from Finko on recent Varks licence revocation

01.04.2020

mintosblog

Comment by CEO of Finko Group, Janis Pizics for investors on Mintos:

“Following up on my earlier message to investors on Mintos on the Board of the Central Bank of the Republic of Armenia (CBA) revocation of license for the lending company United Credit Joint Stock Company (Varks), there are couple developments to share as well as answers to questions about Finko I’ve seen on the Mintos blog.” (more…)

Update: Finko AM (Varks) licence revoked in Armenia

26.03.2020

mintosblog

On 24 March 2020, the Board of the Central Bank of the Republic of Armenia (CBA) published a revocation of license for the lending company United Credit Joint Stock Company, which operates under the brand name Varks. Varks, as a part of the Finko group, is represented as Finko AM on the Mintos marketplace.  (more…)

Statement from Finko on recent Varks licence revocation

26.03.2020

mintosblog

Below is a comment we share with investors on Mintos from the CEO of Finko Group, Janis Pizics:

“According to the announcement of the Central Bank of Armenia, the license for business of the lending company United Credit Joint Stock company, represented by a brand name Varks, is revoked. This comes as a significant surprise both to the local team as well as to FINKO Group. The reason for revoking the license given in the statement by the Central Bank of Armenia is capital inadequacy.

Varks.am attracts long-term capital that will provide additional security for Mintos investors

28.03.2018

mintosblog

Varks.am shareholders have decided to increase the registered share capital of Varks.am from AMD 455 to AMD 600 million (the equivalent of approximately EUR 1 million).  The increase of share capital will result in larger equity and raise the financial stability of the company. Share capital changes will be registered in the following weeks. (more…)

First loan originator from Armenia – Varks.am – joins Mintos

12.02.2018

mintosblog

The first loan originator from Armenia has just joined Mintos! Varks.am is one of the leading alternative lending companies in the country and now offers short-term consumer loans for investment on the Mintos marketplace. Loans from Varks.am are listed in euro (EUR) with expected returns of 13%. (more…)

Mogo Finance acquires Sebo Credit SRL from Finko group

13.07.2020

mintosblog

Finko group is about to finalize the sale of Sebo Credit SRL, one of its entities operating in Moldova, to Mogo Finance group, one of the largest European used car finance groups.   (more…)

2 July update: Status of the defaulted lending companies and the recovery of invested funds

02.07.2020

mintosblog

Following previous updates, we share news on the developments in the last month on each defaulted lending company and the recovery of invested funds. View the table for financial data and read comments on each lending company below.  (more…)

  1. 1
  2. 2
  3. 3

Search

Important

Follow us