Twino refocuses on European and Asian loans amid Russian sanctions

European peer-to-peer platform Twino has announced plans to increase investment opportunities in loans from European and Asian operations, and increase real estate loans, after reducing its exposure to the Russian market.

In an update to investors, Twino said it would report more frequently on its plans to mitigate the impact of Russian sanctions on its loan portfolio.

Russian loans currently represent approximately 20% of Twino’s loan base.

Last week, the Latvia-based lender said it had created an internal task force to monitor loans exposed to Russia, as the Russian-Ukrainian conflict escalates.

“In order to prevent Twino investors from taking increased risks, a decision has already been made to drastically reduce loan amounts with the listed currency exposure feature,” the company said in a blog post on its website. .

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“Given the volatility in the currency market seen in recent days, we urge you to carefully consider your decision to invest in loans with the currency exposure feature. Investors are also encouraged to review the settings of the portfolios of existing automatic investments to ensure that they are in line with the investment strategy you have chosen.

Twino added that its goal was to maintain liquidity and financial stability for its investors. The platform’s Russian lender “continues to tighten the conditions of its risk policy to further improve the quality of its loan portfolio”, and no new loans are offered to its customers.

The platform added that it has partnered with other fintech companies and Latvian businesses to financially support Ukraine and aims to raise at least 5 million euros (4.13 million pounds). sterling) “as soon as possible”.

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