As another week has passed, I am giving you an update on TWINO’s operations during Covid-19 outbreak. All our countries continue to serve their customers and are doing their best to adjust to the current market conditions, while we are supporting them from our headquarters in Riga (nowadays distributed all over the city or even country due to our work from home policy).

TWINO Group’s activities:

• We continue to monitor borrower repayments with the foremost scrutiny by adjusting existing and implementing new analytics daily. We have seen slightly fewer borrowers repaying on time than usually; however, these changes are marginal. Furthermore, we continue to offer loan restructuring options to those borrowers that have temporary decrease in income;

Platform:

1. We are about to launch our #2 Cashback campaign that will let you earn even higher returns if you invest with our Auto-invest tool. More information will be available on your investor profile already soon. The campaign will start from 15.04.2020, read more in our Blog;
2. Our March numbers are still strong with nearly €14 million worth of loans funded despite the turbulence in the financial markets. Additionally, happy to see that we even had a growth compared to the previous month, see more in P2P-Banking;
3. Easter holidays have arrived in Latvia, thus our customer support will be not available on 10.04.2020 & 13.04.2020. This also means that it will be not possible to process your payments due to banking holidays;

• Russia saw an introduction of a new regulation that allows the borrowers affected by the Covid-19 to apply for credit holidays to a term of up to 6 months. It is applicable to only those borrowers that have lost at least 30% of their income and that have received a loan prior to 03.04.2020. Currently, we see only a minor part (less than 1%) of borrowers applying for this extension, as they still have to pay 2/3 of the interest payments originally charged, thus they do not see financial benefits from postponing the loan repayment for this long period of time.

In case of any specific questions do not hesitate to contact us.