Credit score – KR2K http://kr2k.com/ Tue, 11 Jan 2022 18:03:10 +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 A Scotiabank Small Business Lending Expert explains how women entrepreneurs can better understand their finances – and why it’s so important. https://kr2k.com/a-scotiabank-small-business-lending-expert-explains-how-women-entrepreneurs-can-better-understand-their-finances-and-why-its-so-important/ Tue, 11 Jan 2022 16:53:55 +0000 https://kr2k.com/a-scotiabank-small-business-lending-expert-explains-how-women-entrepreneurs-can-better-understand-their-finances-and-why-its-so-important/ By Hailey Eisen Having worked in the financial services industry for 30 years, Alida Pellegrino knows the biases women traditionally face, both in the workplace and as business owners. “During the 20+ years that I was a commercial banker, I would say that 80% of the companies I interacted with were run by men,” she […]]]>

By Hailey Eisen

Having worked in the financial services industry for 30 years, Alida Pellegrino knows the biases women traditionally face, both in the workplace and as business owners.

“During the 20+ years that I was a commercial banker, I would say that 80% of the companies I interacted with were run by men,” she says. “But things are definitely starting to change, which is why the Scotiabank Women’s Initiative is so important to me.

Alida has helped address the challenges women face in her current role as Vice President, Credit Adjudication Canada at Scotiabank, and as a member of the Advisory Board of Scotiabank Women’s Initiative. By providing information, education and funding, the Scotiabank Women’s Initiative is committed to removing barriers for business owners who identify as female or non-binary, by their empowering them to take their business, career and financial future to the next level.

“Gillian Riley, President and CEO of Tangerine Bank and Founder of the Scotiabank Women Initiative created the program after learning firsthand some of the challenges women face when starting their own businesses. For example, it is more difficult for women to access capital than their male counterparts, and she wanted to help women overcome these obstacles, ”says Alida. “As I oversee the Scotiabank Small Business Loan team, we are able to help small business owners meet their financing needs by assessing loan applications. ”

“Often entrepreneurs have a passion and they go straight out with the resources they have. It’s only when they realize that they are ready to grow and need more money to do so that they really think about finances.

Alida personally provides financial education to clients of the Scotiabank Women’s Initiative and always emphasizes that a solid understanding of your finances is critical to the long-term success of your business.

“We know that business owners are generally adept at what they do, but having a good grasp of your finances is also an essential part of running a successful business,” she says. “Often entrepreneurs have a passion and they go straight out with the resources they have. It’s only when they realize that they are ready to grow and need more money to do so that they really think about finances.

If this is an area you are unsure of, she adds, there are many simple steps you can take to feel more comfortable and take charge of your finances.

“The very first step is to understand your cash flow,” says Alida. It involves knowing what you spend and what you bring back each month and following a budget to support the financial management of your business. She also advises entrepreneurs to understand and prepare for the seasonality of their business and its impact on cash flow.

“I’ll give you an example,” Alida said. “Before the holiday season, a company that makes a product has to buy inventory and start production a few months or quarters in advance, but it won’t have the cash flow from the sales of those products until November or December. Also, to take advantage of other sources of financing such as commercial credit from your suppliers, which women entrepreneurs tend to avoid ”

“Remember, it’s good not to know. It’s those areas of uncertainty where you can really take advantage of other professionals to support you through the process.

To clarify your financial needs, you also need to be able to identify what stage your business is at – start-up, sustainability, or growth – and how you should support it at each stage. Uncertain? When it comes to finances, the more questions and information you ask, the better. This is where a relationship with your accountant and banker can be particularly beneficial, advises Alida.

“Knowledge is power. Don’t just meet with your accountant once a year to prepare your financial statements, ”she says. “Befriend them so you can benefit from their advice throughout the year. The same goes for your banker.

Alida’s favorite part of working in commercial banking over the years has been getting to know her clients, learning their stories, and working with them through their challenges and successes – not long ago. jobs in the world where a business owner shares trade secrets, information about their customers, suppliers and industry. “As a business owner you can confide in your banker, tell us about your business and your plans, we can help you with your needs and wants and make sure that we are a key partner in your success. ”

If you are hesitant to ask questions, “Remember, there is nothing wrong with not knowing,” says Alida. “It’s those areas of uncertainty where you can really leverage other professionals to support you through the process. ”

Relationships, in general, are also key to business success, and networking is something Alida advises all female entrepreneurs to spend more time doing. This is one area where the Scotiabank Women’s Initiative can really help, she adds.

“We were able to bring together like-minded women who might not have had the opportunity to connect – in person or virtually – and talk about their challenges, what works and what doesn’t. , and build that network which can often prove invaluable, “says Alida.” Through workshops and training, mentoring opportunities and networking, so far we have engaged over 6,000 women entrepreneurs across the country.

Providing access to capital and tailored financial solutions is another key goal of the Scotiabank Women’s Initiative, and since its inception three years ago, more than $ 3 billion in capital has been deployed. in businesses owned and operated by women in Canada. Now this help is needed more than ever.

“Women-led businesses already face unique challenges, but the COVID-19 pandemic and the ripple effect on the economy has put additional pressure on women entrepreneurs,” Alida said. “For the Canadian economy to grow, we must support all types of businesses, led by a diverse group of entrepreneurs, for diversity of thought is the source of true success.

This article is provided for informational purposes only. It should not be taken as a financial, fiscal or investment advice or guarantee regarding the future, nor as a recommendation to buy or sell. The information contained in this article, including information relating to interest rates, market conditions, tax rules and other investment factors, is subject to change without notice and Banque de Nouvelle- Scotland is not responsible for updating this information. References to a product or service, a third party opinion or statement, or the use of any trade, business or company name do not constitute an endorsement, recommendation or endorsement by The Bank of Nova Scotia. any of the third party’s products, services or opinions. All third party sources are believed to be accurate and reliable as of the date of publication and The Bank of Nova Scotia does not warrant their accuracy or reliability. Readers should consult their own professional advisor for specific financial, investment and / or tax advice tailored to their needs to ensure that individual circumstances are properly taken into account and that action is taken based on them. latest information available.

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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.

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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.

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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)

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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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