NEW DELHI : The treasure trove of data captured in the GST framework about economic transactions is beginning to drive financial institutions’ lending decisions, especially to small and medium businesses, according to agencies that generate various statutory documents and invoices. E-way bills are now mandatory for the transport of goods within and across states, and e-invoices […]
GST data aids lenders’ decision on SME loans Read More »
LHV UK Limited, a subsidiary of AS LHV Group, has made an offer to Bank North Limited, a UK based credit institution, to acquire its small and medium-sized enterprises (‘SME’) lending business. With this move, LHV UK Limited, which is currently applying for a UK banking license, enters the UK SME lending market. https://www.globenewswire.com/en/news-release/2022/10/11/2531408/0/en/LHV-UK-plans-to-acquire-Bank-North-s-business-activities.html
LHV UK plans to acquire Bank North’s business activities Read More »
Southeast Asian SME growth financing platform Validus and Citibank announced the establishment of a US$100 million securitisation facility. This will be collateralised by SME loans originated by Validus in Singapore. In March this year, Validus announced that it had inked a deal to acquire CitiBusiness’ loan portfolio in Singapore. The facility is also supported by First Plus Asset Management,
SME Lender Validus and Citi Set Up US$100 Million Securitisation Facility Read More »
HSBC challenger bank Kinetic has lent over £2m to SMEs in its first three months as an SME lender, as competition in the space heats up. HSBC launched its challenger mobile banking app two years ago to take on the likes of NatWest’sMettle and challenger bank Tide in the SME banking space. The £2m milestone reached by Kinetic follows Mettle putting out figures earlier
State Bank of India (SBI) announced the introduction of Real Time Xpress Credit on its Yono platform on Monday. The eligible customers can now to get personal loans of up to Rs 35 lakh. According to the SBI, this service would be a 100 percent paperless and digital experience and an end-to-end eight step journey.
What Is SBI’s Xpress Credit, How Will It Benefit Loan Eligible Customers? Read More »
“While consolidating the company’s position as a leading player in the vehicle finance, loan against property, and housing finance businesses, the company has also launched these three new business divisions,” said a company statement. CSEL business will focus on threeareas – personal & professional loans (PPL), micro & small enterprise loans and strategic digital partnerships. “We
Cholamandalam launches three new business verticals for consumer & SME loans Read More »
Abhishek Kothari, Deepak Jain, Manish Lunia, and Ritesh Jain were shocked to realise that India had more than 60 million small businesses and more than 80 percent didn’t have any credit. This created a staggering $250 billion credit gap with a direct impact on the country’s GDP. The four, who had worked for decades across
As small and medium businesses continue to be hardest hit by the Covid-19 pandemic, alternative lenders remain an invaluable crutch. Thanks to a bumper year, Linked Finance has surpassed €150m dished out to more than 2,700 SMEs. The Irish peer-to-peer lender flew past the milestone after issuing €9.6m in loans in the first quarter of 2021, a
Irish P2P lender smashes €150m lending milestone as appetite for SME loans continues Read More »
Agriculture and Rural Development Bank of Cambodia (ARDB) expects to receive an additional $30 million from the government for special-purpose loans to keep the Kingdom’s smaller businesses afloat amid the ongoing economic duress of Covid-19, according to the state-owned bank’s director-general Kao Thach. Thach told The Post on March 22 that ARDB recently submitted a
ARDB seeks $30M more for SME loans Read More »
Public sector lender Bank of Baroda reported a net profit of Rs 1,061 crore in the October-December quarter (Q3) of FY21, compared to a loss of Rs 1,407 crore in the year-ago period. Despite interest income declining by almost 7 per cent, net interest income rose 8.65 per cent to Rs 7,749 crore in Q3 compared
Bank of Baroda clocks Rs 1K-cr profit, warns of stress in retail, SME loans Read More »