AROUND THE WORLD
Lending Club leads an ugly quarter for US p2p lenders in this Bloomberg article. They aren’t the only ones with issues as Prosper, Avant having to cut staff as well.
The executive shakeup at Lending Club and its impact on 2nd Quarter earnings is discussed here where new CEO Scott Sanborn is steadying the ship and 15 of the top 20 lenders are back on the platform but at lesser levels than they were investing previously. The 2nd quarter and the forced resignation of Renaud LaPlanche from Lending Club set back the industry as a whole in the US in Q2.
China puts in new regulatory rules including separating p2p loans from public deposits as reported by Reuters and shown at Fortune Magazine. China’s cap also includes the equivalent of $30,000 to borrow on one p2p platform for any individual and $150,000 across all p2p platforms in China in this Wall Street Journal story.
BONDORA MENTIONS
Bondora continues to lead p2p lending in Europe in the very important area of transparency. While we do not have to share our annual results in open, we got lots of good questions from our investors and lenders about how we were doing. The result is here in our Annual Report for 2015 which just came out. Crowdfund Insider gave us some good coverage of release of the report and their conclusion, like ours, is that it’s good for everyone to be as transparent about our results as possible.
The FT Alphaville Blog has an excellent discussion of how Bondora calculates returns looking at how returns are calculated both on payments made and what kind of forward looking projections are used. The FT speaks favorably about a very important issue to us, transparency. They note how investor are provided different tools that allow them to build their own models using data made available.
Lastly, if you speak German or want to use Google Translate, an investor on the platform and blogger reports his results. How do your results compare?
Comment below with how you’re doing.
