22 March 2022
EUR 8,7 million of war-affected loans have been repaid | Next repayment - in April
Since the war started in Ukraine on February 24, PeerBerry’s business partners have already repaid EUR 8.72 million of war-affected loans from the group’s accumulated reserves.
Repayments of war-affected loans from February 24th till March 15th were made as follows:
- EUR 7 095 160 was used from Aventus Group to repay a part of Ukrainian short-term loans,
- EUR 207 580 was used to repay a part of Aventus Group Ukrainian long-term loans,
- EUR 863 438 was used from Gofingo Group reserves to repay the part of Gofingo Group Ukrainian loans,
- EUR 557 817 was used to repay a part of Aventus Group Russian loans.
The next partial repayment of the war-affected loans in a total of EUR 1,2 million is scheduled for the first week of April.
Assessing the complexity of the situation caused by war, the size of the obligations for investments in Ukrainian and Russian loans, also assessing the performance results and future projections of the healthy part of our partners’ business, Aventus Group and Gofingo Group forecast that all investments in Ukrainian and Russian loans will be repaid within 24 months and we are successfully moving towards this goal. If the war ends soon, war-affected investments will likely be repaid sooner.
- More information about the repayment plan of war-affected loans can be found in this article.
Currently, the PeerBerry team is working on a more convenient display of war-affected loans in the client account also on the statistics page on the website.
PeerBerry has elected 30 investors to the independent supervisory board
To ensure full transparency, on how our partners are moving towards the final goal to repay all investments into Ukrainian and Russian loans and to keep our investors updated about our partners’ overall business results, PeerBerry has elected 30 investors (instead of previously planned 20) from 167 applicants.
The average portfolio of elected investors is EUR 53 987. But not the size of the portfolio was the criterion when electing investors to the independent supervisory board.
What criteria were counted as the priorities when electing the independent supervisory board:
– The share of war-affected loans in the portfolio was considered as the main criterion. The higher the share of war-affected loans, the higher the priority. Keeping this criterion as the main, we chose investors who have more than 55% of war-affected loans in their portfolios.
– Several accounts on PeerBerry was the additional criterion.
– Proactivity in discussing the industry. Some investors are regularly digging deeper into the industry, addressing many questions to us, and raising public discussions in investor communities. Investor proactivity is an important value for other members of the community that’s why this criterion was considered a plus.
The independent supervisory board members will have the first meeting with our business partners next week. All investors after these meetings will receive detailed information about what was presented, what topics were discussed, what decisions were taken.
Business partners in other countries operate efficiently and profitably
All PeerBerry’s business partners, which currently offer loans on our platform, operate efficiently and profitably.
Recently we shared our business partners results in the Poland market – our Polish partners earned EUR 6.96 million in net profit in 2021.
We will be regularly sharing with you the performance of our business partners in other countries as well.
