The Mintos Risk Score evaluates the risks of investing in Notes on Mintos. It is calculated from 4 subscores assigned to the underlying loans for Loan Portfolio Performance, Loan Servicer Efficiency, Buyback Strength, and Cooperation Structure.
We monitor lending companies on an ongoing basis, and we update the Mintos Risk Score for Notes for each company quarterly. Based on the results and findings, subscores are upgraded or downgraded, which can lead to an upgrade or downgrade of the Mintos Risk Score.
When there are important changes related to specific underlying loans (material improvement or deterioration such as a suspension or default of the loan issuing company), the related subscores and Mintos Risk Score are updated outside of the regular schedule.
Read more about the Mintos Risk Score List of current Risk Scores File with the historic changes in the Mintos Risk Score for the year 2021/2022/2023/2024
Disclaimer: Under no circumstances should the Mintos Risk Score be treated and relied upon as a credit rating. It is not prepared in accordance with the methodology and provisions defined by the Regulation (EC) No 1060/2009 on credit rating agencies. The Mintos Risk Score is not investment advice and Mintos cannot be held liable for any losses which may result from basing investment decisions on information and/or analytical materials provided on this website.
The companies below are listed in alphabetical order.
Update: 8 October 2024
CashCredit (BG)
Buyback strength subscore decreased due to higher funding diversification risk.
Creditstar (EE)
Buyback strength subscore increased due to lower funding diversification risk.
Creditstar (FI)
Loan portfolio performance subscore increased due to better portfolio performance and due to upgrades in the data integrity.
Eleving Group (AL)
Loan portfolio performance and Loan servicer efficiency subscores increased due to increased score for Albania.
Eleving Group (MK)
Loan portfolio performance subscore increased due to better portfolio performance.
ESTO (EE)
Buyback strength subscore decreased due to higher funding diversification risk.
Evergreen Finance (GB)
Loan servicer efficiency subscore increased due to improvements in Allianz Trade short-term rating improvement.
Finclusion (KE)
Loan portfolio performance subscore decreased due to decrease in Moody's rating for Kenya from B to C and decrease in portfolio performance.
GoCredit (MX)
Buyback strength subscore increased due to lower funding diversification risk and higher capitalization ratio.
Hipocredit (LT)
Buyback strength subscore decreased due to higher funding diversification risk.
IDF EURASIA (KZ)
Buyback strength subscore increased due to lower funding diversification risk.
IuteCredit (AL)
Loan servicer efficiency subscore increased due to increased macroeconomics score for Albania.
Mikro Kapital (MD)
Buyback strength subscore increased due to higher capitalisation.
Mikro Kapital (RO)
Buyback strength subscore decreased due to higher funding diversification risk.
Nera Capital (UK)
Loan portfolio performance and Loan servicer efficiency subscores increased due to better financial performance and portfolio improvments. Cooperation structure subscore increased upon completing the new pledge registration.
Pinjam Yuk (ID)
Loan portfolio performance subscore decreased due to an increase in the company's non-performing loan ratio and a deterioration in data integrity.
Sun Finance (LV)
Buyback strength subscore increased due to improvements in financial ratios.
The companies below are listed in alphabetical order.
Update: 9 August 2024
Nera Capital
The Cooperation structure subscore increased as the lending company registered the pledge. This also leads to an increase in the total Mintos Risk Score.
Update: 15 July 2024
Capem (MX)
The Buyback strength subscore increased as both the company's equity and its equity/assets ratio increased over the last 2 quarters.
Creditstar (FI)
The Buyback strength subscore increased due to lower funding diversification risk. The Loan servicer efficiency subscore decreased due to late data submission.
Mikro Kapital (RO)
The Loan portfolio performance subscore increased as the company's non-performing loan ratio decreased.
Pinjam Yuk (ID)
The Buyback strength subscore increased due to changes in the company's creditor structure and higher diversification.
Sun Finance (LV)
The Buyback strength subscore increased due to changes in the company's creditor structure.
The companies below are listed in alphabetical order.
Update: 22 March 2024
Creditstar
Creditstar Estonia: The Buyback Strength subscore increased from 2.0 to 3.0 due to lower funding diversification risk, meaning the funding structure is more diversified.
Credius (RO)
The Buyback Strength subscore decreased from 8.1 to 7.2 due to a slight increase in the funding diversification risk, primarily stemming from Mintos being the sole external funding source. The Cooperation Structure subscore increased from 4.2 to 5.2 upon completing the new pledge registration.
Eleving Group
Eleving Macedonia (Tigo): The Loan Portfolio Performance subscore decreased from 7.4 to 6.6 due to decrease in the Loan Servicer Efficiency subscore, which was impacted by higher loss given default ratio.
Eleving Moldova (Sebo): The Loan Servicer efficiency subscore decreased from 7.4 to 6.5 due to higher loss given default ratio.
GoCredit (MX)
The Loan Portfolio Performance subscore increased from 6.6 to 7.4 due to upgrades in the data integrity. The Loan Servicer Efficiency subscore was also upgraded from 6.8 to 7.8 due to better underwriting procedures, process automation, and improvements in risk controls. The increase in the Loan Portfolio Performance and the Loan Servicer Efficiency subscores led to an increase in the Total Score from 6.5 to 7.2.
Jet Finance (KZ)
The Loan Portfolio Performance subscore increased from 7.9 to 8.9 due to upgrades in the data integrity.
IuteCredit
Iute Albania: The Loan Portfolio Performance subscore has been upgraded from 6.6 to 7.4 due to an upgrade of the Loan Servicer Efficiency subscore, which faced a downgrade last quarter due to delayed financial reporting from the lending company's side.
Mozipo Group
Mozipo Lithuania: The Buyback Strength subscore decreased from 6.3 to 5.1 due to a slight increase in the funding diversification risk.
Placet Group
Placet Group Lithuania: The Buyback Strength subscore decreased from 7.3 to 6.5 due to a slight increase in the funding diversification risk.
Sun Finance
SunFinance Latvia: The Cooperation Structure subscore increased from 3.5 to 5 upon completing the new pledge registration.
The companies below are listed in alphabetical order.
Update: 20 December 2023
CashCredit (BG)
There are no significant changes in the company's risk profile.
Capem MX
There are no significant changes in the company's risk profile.
Credifiel (MX)
There are no significant changes in the company's risk profile.
Creditstar ( EE, FI)
Finland: The Loan Portfolio Performance subscore improved due to upgrades in the data integrity. The non-performing loans ratio has remained stable over recent quarters, with no significant fluctuations, confirming improvements in the loan portfolio quality.
Estonia: The Loan Portfolio Performance subscore improved due to upgrades in the data integrity
Credius (RO)
The Cooperation Structure subscore decreased due to an adjustment in the legal structure, which arose from temporary alterations in the pledge structure. The subscore will be reassessed upon completing the new pledge registration.
DelfinGroup
Banknote Latvia: There are no significant changes in the company's risk profile.
VIZIA Latvia: There are no significant changes in the company's risk profile.
Dinerito (MX)
RO, LT, LT Renti, LV, LV Renti, GE, (Tigo) MK, Kredo AL: There are no significant changes in the company's risk profile.
Eleving Group (formerly Mogo)
The Loan Portfolio Performance subscore increased due to the non-performing loans ratio remaining stable over recent quarters, with no significant fluctuations, confirming improvements in the loan portfolio quality. The Loan Servicer Efficiency score increased due to an enhanced internal operational processes, particularly the full automation of the payment management.
AM, EE, MD, MD Sebo: The Cooperation Structure subscore decreased due to an adjustment in the legal structure, which arose from temporary alterations in the pledge structure. The subscore will be reassessed upon completing the new pledge registration.
KE: The Loan Portfolio Performance subscore decreased due to data integrity issues. These issues have resulted in a partial mismatch between the listed loan portfolio quality and the actual quality observed on the Lending Company side. Along with this, the non-performing loans ratio has been fluctuating significantly over recent quarters.
ESTO (EE)
There are no significant changes in the company's risk profile.
Everest Finanse (PL)
There are no significant changes in the company's risk profile.
Evergreen Finance (GB)
The Cooperation Structure subscore decreased due to the reassessment of the pledge value. The subscore will be revised upon the completion of the new pledge registration.
ExpressCredit BW
There are no significant changes in the company's risk profile.
Finclusion (ZA) (KE)
There are no significant changes in the company's risk profile.
GoCredit (MX)
The Buyback Strength subscore decreased due to asset volumes expanding faster than the lending company's profit-generating capacity. For this reason, the capitalization and profitability ratios have declined.
Hipocredit (LT, LV)
Lithuania and Latvia: There are no significant changes in the company's risk profile.
ID Finance (ES, MX)
Spain: There are no significant changes in the company's risk profile.
IDF Eurasia (KZ)
Solva: The Loan Portfolio Performance subscore increased due to the non-performing loans ratio remaining stable over the recent quarters with no significant fluctuations, confirming improvements in the loan portfolio quality.
Moneyman: There are no significant changes in the company's risk profile.
Jet Finance (KZ)
The Buyback Strength subscore decreased due to lower earnings because of foreign exchange volatility and increased impairments.
Mikro Kapital (MD, RO, UZ)
Uzbekistan, Romania, and Moldova: There are no significant changes in the company's risk profile.
Mozipo Group (LT, RO)
Lithuania: The Loan Portfolio Performance subscore increased due to the non-performing loans ratio remaining stable over recent quarters with no significant fluctuations, confirming improvements in the loan portfolio quality.
Romania: There are no significant changes in the company’s risk profile.
Placet Group (EE, LT)
Estonia and Lithuania: There are no significant changes in the company’s risk profile.
Planet42 (ZA)
The Buyback Strength subscore decreased due to asset volumes expanding faster than the lending company’s profit-generating capacity
Rapicredit (CO)
There are no significant changes in the company’s risk profile.
Sun Finance (DK, KZ, LV, PL, VN)
Poland Ducatos: The score has been withdrawn for Poland Ducatos. In November 2023, the company repurchased all remaining outstanding investments from the Mintos platform in response to strategic adjustments within the Polish market.
Poland Primastar: The score has been withdrawn for Poland Primastar. In November 2023, the company repurchased all remaining outstanding investments from the Mintos platform in response to strategic adjustments within the Polish market.
Sofi KZ, Creditum Kazakhstan: There are no significant changes in the company’s risk profile.
Latvia: The Buyback Strength subscore decreased due to a slight increase in the funding diversification risk, primarily stemming from Mintos being the sole external funding source. The Cooperation Structure subscore decreased due to temporary alterations in the pledge structure. The subscore will be reassessed upon completing the registration for the new pledge.
Swell (MX)
The Buyback Strength subscore decreased due to a slight weakening of profitability and efficiency ratios.
Watu Credit (UG)
Uganda: There are no significant changes in the company’s risk profile.
Zenka (KE)
There are no significant changes in the company’s risk profile.