Credit score – KR2K http://kr2k.com/ Tue, 10 Aug 2021 04:56:20 +0000 en-US hourly 1 https://wordpress.org/?v=5.8.1 https://kr2k.com/wp-content/uploads/2021/08/icon-150x150.png Credit score – KR2K http://kr2k.com/ 32 32 China’s new yuan loans in July are expected to be nearly halved from June https://kr2k.com/chinas-new-yuan-loans-in-july-are-expected-to-be-nearly-halved-from-june-2/ https://kr2k.com/chinas-new-yuan-loans-in-july-are-expected-to-be-nearly-halved-from-june-2/#respond Mon, 09 Aug 2021 06:15:00 +0000 https://kr2k.com/chinas-new-yuan-loans-in-july-are-expected-to-be-nearly-halved-from-june-2/ Chinese 100 yuan bills are seen in a counting machine as an employee counts them at a branch of a commercial bank in Beijing, China on March 30, 2016. REUTERS / Kim Kyung-Hoon / File Photo Reuters: // realtime / verb = Open / url = cpurl: //apps.cp./Apps/econ-polls? RIC = CNMSM2% 3DECI money supply survey […]]]>

Chinese 100 yuan bills are seen in a counting machine as an employee counts them at a branch of a commercial bank in Beijing, China on March 30, 2016. REUTERS / Kim Kyung-Hoon / File Photo

  • Reuters: // realtime / verb = Open / url = cpurl: //apps.cp./Apps/econ-polls? RIC = CNMSM2% 3DECI money supply survey data
  • Reuters: // realtime / verb = Open / url = cpurl: //apps.cp./Apps/econ-polls? RIC = CNNYL% 3DECI new loan survey data
  • New July loans at 1.20 trillion yuan compared to 2.12 trillion yuan in June
  • Growth in money supply in July at 8.7% yoy compared to 8.6% in June
  • July TSF at 1.70 trillion yuan against 3.67 trillion yuan in June

BEIJING, Aug.9 (Reuters) – New Chinese yuan loans are expected to decline in July after record lending in the first six months, a Reuters poll showed, but still expected to be higher than a year earlier , as the central bank seeks to support the country’s economic recovery.

It is estimated that Chinese banks issued 1.20 trillion yuan ($ 185.29 billion) in new net loans in yuan last month, up from 2.12 trillion yuan in June, according to the median estimate of the survey of 29 economists.

It would be more than 992.7 billion yuan issued in the same month a year earlier.

Chinese banks made a record 12.7 trillion yuan in new loans in the first half of 2021, even as the People’s Bank of China (PBOC) sought to slow credit growth to limit debt risks.

China is set to ramp up spending on infrastructure projects as the central bank backs modest easing measures, as risks from the Delta variant and flooding threaten to slow its recovery, said insiders and analysts. Read more

Last month, a meeting of the Politburo, a supreme decision-making body of the ruling Communist Party, pledged to maintain an accommodating stance in the face of a patchy domestic recovery and global uncertainty.

As of July 15, the PBOC reduced the reserve requirement ratio (RRR) of banks, freeing up about 1,000 billion yuan in long-term liquidity. Analysts expect the RRR to cut again this year.

Annual yuan loans are expected to rise 12.3 percent for July, as in June, according to the survey. The growth of the broad money supply M2 in July was 8.7%, compared to 8.6% the previous month.

Net issuance of local government special bonds reached 1.0 trillion yuan in the first half of the year, accounting for 28 percent of the annual quota, according to data from the Ministry of Finance.

Any acceleration in government bond issuance could help boost Total Social Finance (TSF), a broad measure of credit and liquidity. TSF growth slowed to 11% in June, from an almost three-year high of 13.7% in October 2020.

In July, TSF is expected to fall to 1.70 trillion yuan, from 3.67 trillion yuan in June.

($ 1 = 6.4755 Chinese yuan)

Reporting by Judy Hua and Kevin Yao; Editing by Jacqueline Wong

Our standards: Thomson Reuters Trust Principles.


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Latitude share price rise on acquisition of Symple loans (ASX: LFS) https://kr2k.com/latitude-share-price-rise-on-acquisition-of-symple-loans-asx-lfs/ https://kr2k.com/latitude-share-price-rise-on-acquisition-of-symple-loans-asx-lfs/#respond Mon, 09 Aug 2021 06:01:01 +0000 https://kr2k.com/latitude-share-price-rise-on-acquisition-of-symple-loans-asx-lfs/ the Latitude Group Holdings Ltd. [ASX:LFS] the share price is up today after the acquisition of Symple Loans for $ 200 million. Source: TradingView.com As of this writing, shares of LFS were trading at $ 2.40 per share, up 4.80%. Latitude’s expansion plans Latitude said the acquisition of Symple Loans, a Melbourne-based financial technology company, […]]]>

the Latitude Group Holdings Ltd. [ASX:LFS] the share price is up today after the acquisition of Symple Loans for $ 200 million.

Source: TradingView.com

As of this writing, shares of LFS were trading at $ 2.40 per share, up 4.80%.

Latitude’s expansion plans

Latitude said the acquisition of Symple Loans, a Melbourne-based financial technology company, would drive Latitude’s growth in segments such as personal loans. This market has seen tremendous growth for brokerage firms over the past few months.

Company presentationSource: Company presentation

Symple will become the lending platform for all Latitude personal and auto loans.

With approximately 160,000 customers backed by a $ 2.5 billion loan portfolio, Latitude will leverage Symple’s sophisticated platform to support its existing business and aims to initiate and partner with other lenders.

Latitude also plans to expand its auto loan business in New Zealand and personal loan business in Canada through Symple’s established North American operations.

In short, Latitude’s decision to acquire Symple was strategic.

The final transaction will be funded by the issuance or delivery of 38.46 million Latitude shares at $ 2.60 per share and $ 100 million in cash.

Latitude Managing Director and CEO Ahmed Fahour expressed his positive opinion:

This is an exciting and important opportunity for Latitude that will accelerate our growth plans.

Symple’s scalable platform will allow Latitude to offer a wider range of products and product features in Australia and New Zealand, enter new geographies and significantly reduce costs while providing superior customer and partner experience.

Latitude 1H21 commercial update

In addition to the acquisition announced today, Latitude also recently released its 1:21 business update.

Latitude’s lending volumes for the six-month period ended June 30 are expected to be $ 3.7 billion.

This is an overall increase of 7%, with personal loan volumes up 25% in Australia and 50% in New Zealand compared to 1H20.

The company notes:

This growth in volume is despite the fact that the international and travel category is down 46% in 1H20 and 74% compared to 2019 due to border closures.

On the other hand, gross receivables on loans are expected to remain stable from 2H20 levels at $ 6.5 billion.

This is mainly due to prepayments from customers in response to the government’s cash stimulus and lower spending.

Costs are expected to decrease by 10% compared to the previous corresponding period (PCP), while accounting credit quality continues to improve strongly with net charges likely to decrease by 40% on PCP.

As a result of these expectations and forecasts, Latitude expects Net Income After Tax (NPAT) of between $ 115 million and $ 120 million for the six months ending June 30, 2021.

Outlook Sharing for Latitude

With strong expansion plans supported by solid future projections, Latitude aims to carve out a competitive position in the FinTech industry.

These expansion plans may also have contributed to the market auction of LFS shares today.

The acquisition of Symple Loans will give Latitude the opportunity to further capture a growing market.

For example, the global FinTech market is expected to grow and reach a market value of approximately $ 324 billion by 2026.

Optimistic investors are hopeful that the acquisition announced today will position Latitude well in an industry that is only expected to grow.

Now, if you want to learn more about which fintech stocks have the potential to dominate the fintech industry, then I suggest you check out our free fintech report.

Greetings,

Lachlann Tierney,

For Morning money

PS: The next post-payment? Check out three promising Australian fintechs that are currently trading below $ 1. Click here to find out more.


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China’s new yuan loans in July are expected to be nearly halved from June https://kr2k.com/chinas-new-yuan-loans-in-july-are-expected-to-be-nearly-halved-from-june/ https://kr2k.com/chinas-new-yuan-loans-in-july-are-expected-to-be-nearly-halved-from-june/#respond Mon, 09 Aug 2021 05:53:35 +0000 https://kr2k.com/chinas-new-yuan-loans-in-july-are-expected-to-be-nearly-halved-from-june/ Breadcrumb Links PMN company Author of the article: Release date : August 09, 2021 • 11 minutes ago • 2 minutes to read • Join the conversation Content of the article BEIJING – New Chinese yuan loans are set to decline in July after record lending in the first six months, a Reuters poll showed, […]]]>

Content of the article

BEIJING – New Chinese yuan loans are set to decline in July after record lending in the first six months, a Reuters poll showed, but are still expected to be higher than a year earlier, with the central bank seeking support the country’s economic recovery.

It is estimated that Chinese banks issued 1.20 trillion yuan ($ 185.29 billion) in new net loans in yuan last month, up from 2.12 trillion yuan in June, according to the median estimate of the survey of 29 economists.

It would be more than 992.7 billion yuan issued in the same month a year earlier.

Publicity

Content of the article

Chinese banks made a record 12.7 trillion yuan in new loans in the first half of 2021, even as the People’s Bank of China (PBOC) sought to slow credit growth to limit debt risks.

China is set to ramp up spending on infrastructure projects as the central bank backs modest easing measures, as risks from the Delta variant and flooding threaten to slow its recovery, said insiders and analysts.

Last month, a meeting of the Politburo, a supreme decision-making body of the ruling Communist Party, pledged to maintain an accommodating stance in the face of a patchy domestic recovery and global uncertainty.

As of July 15, the PBOC reduced the reserve requirement ratio (RRR) of banks, freeing up about 1,000 billion yuan in long-term liquidity. Analysts expect the RRR to cut again this year.

Publicity

Content of the article

Annual yuan loans are expected to rise 12.3 percent for July, as in June, according to the survey. The growth of the broad money supply M2 in July was 8.7%, compared to 8.6% the previous month.

Net issuance of local government special bonds reached 1.0 trillion yuan in the first half of the year, accounting for 28 percent of the annual quota, according to data from the Ministry of Finance.

Any acceleration in government bond issuance could help boost Total Social Finance (TSF), a broad measure of credit and liquidity. TSF growth slowed to 11% in June, from an almost three-year high of 13.7% in October 2020.

In July, TSF is expected to fall to 1.70 trillion yuan, from 3.67 trillion yuan in June. ($ 1 = 6.4755 Chinese yuan) (Reporting by Judy Hua and Kevin Yao; Editing by Jacqueline Wong)

Publicity

In-depth reporting on The Logic’s innovation economy, presented in partnership with the Financial Post.

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Ujjivan Sfb plans to restructure 7-8% of loans by Q2fy22 https://kr2k.com/ujjivan-sfb-plans-to-restructure-7-8-of-loans-by-q2fy22/ https://kr2k.com/ujjivan-sfb-plans-to-restructure-7-8-of-loans-by-q2fy22/#respond Mon, 09 Aug 2021 05:29:00 +0000 https://kr2k.com/ujjivan-sfb-plans-to-restructure-7-8-of-loans-by-q2fy22/ Ujjivan Small Finance Bank reported earnings for the quarter ended in June. The bank recorded a net loss of Rs 233 crore for the first quarter ended June 30 and the highest gross NPA ratio on record, even after the big cancellation it undertook. His total income from April to June 2021 fell 8% to […]]]>

Ujjivan Small Finance Bank reported earnings for the quarter ended in June. The bank recorded a net loss of Rs 233 crore for the first quarter ended June 30 and the highest gross NPA ratio on record, even after the big cancellation it undertook. His total income from April to June 2021 fell 8% to Rs 717 crore, from Rs 775 crore during the period last year. Net interest income fell 16% to Rs 384 crore from Rs 458 crore during the period last year. The bank’s gross non-performing assets (APM) climbed to 9.8% of gross advances as of June 30, 2021, from 1% at end-June 2020. Net ANPs, or bad debts, also increased to 2.7% . 0.2 percent. Nitin Chugh, Managing Director and CEO of Ujjivan Small Finance Bank, discussed the final results.

The bank had planned a restructuring, which began in the second half of June. “In July, we restructured Rs 500 crore. So we expect about 7-8% of the book to be restructured by the end of the second quarter and that will be a work in progress, ”he said.

“As things have improved in July, we are absolutely optimistic that things will improve from now on; customers have also started to reimburse, ”he explained.

In Kerala the bank has a very small wallet of around Rs 210 crore. However, Tamil Nadu and Karnataka had a remarkable recovery in July, he said.

Demand has certainly returned. “If there is demand, if there is good quality credit available, we don’t see any problem with the growth. We are targeting growth of around 20 to 25%, and I maintain that three good quarters for us will get us through good growth momentum. This is what we saw in July, which reaffirms the whole hypothesis that growth will not disappear, ”he explained.

Regarding NPAs, he said the bank had barely added 40,000 accounts to NPAs compared to earlier when the numbers were in lakhs.

Regarding the timing of reverse mergers, he said: “For now, based on the latest communication we received from the Association’s Reserve Bank of India (RBI), we could apply three months before the end of our fifth year, which is around Jan 31, 2022. We would apply to RBI in the first week of November and go through a lot of formalities and procedural approvals before we do and after that as well , there are several regulatory approvals and milestones to be completed. So in all, between 9 and 12 months is what we expect this whole process to take to be completed.

(With PTI entries)

For the full interview, watch the accompanying video.

(Edited by : Dipika gosh)

First publication: STI


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Business News | Stock market and stock market news https://kr2k.com/business-news-stock-market-and-stock-market-news/ https://kr2k.com/business-news-stock-market-and-stock-market-news/#respond Mon, 09 Aug 2021 03:50:48 +0000 https://kr2k.com/business-news-stock-market-and-stock-market-news/ Search for quotes, news, net asset values ​​of mutual funds Rolex rings INE645S01016, ROLEXRINGS, 543325 Vodafone idea INE669E01016, IDEA, 532822 Glenmark’s life INE03Q201024, GLS, 543322 Power of Tata INE245A01021, TATAPOWER, 500400 TIC INE154A01025, ITC, 500875 Search for quotes, news, net asset values ​​of mutual funds Rolex rings INE645S01016, ROLEXRINGS, 543325 Vodafone idea INE669E01016, IDEA, 532822 […]]]>














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