License

 
Author Topic
Andrej 02.05.2019 09:58:14
  • Registered: 23.08.2014
  • Posts: 45

I have heard some rumours that Omaraha or owners got banking licence. Is that truth? If so, what plans about using it?

Andrej
 
Late 02.05.2019 15:08:48
  • Registered: 20.07.2015
  • Posts: 9

Andrej
I have heard some rumours that Omaraha or owners got banking licence. Is that truth? If so, what plans about using it?
https://news.err.ee/927029/holm-bank-established-as-estonian-capital-based-lender

Late
 
Andrej 04.05.2019 20:46:58
  • Registered: 23.08.2014
  • Posts: 45

Thanks Late!

Andrej
 
gmaxkenny 06.05.2019 14:32:02
  • Registered: 19.03.2015
  • Posts: 10

What has Holm bank got to do with Omaraha,I do not see them mentioned in the article.

gmaxkenny
 
danielsepp 06.05.2019 16:20:22
  • Registered: 29.01.2017
  • Posts: 9

gmaxkenny
What has Holm bank got to do with Omaraha,I do not see them mentioned in the article.

Except for being owned by them (or pardon me, same owners?), nothing.

danielsepp
 
arne 07.05.2019 08:55:56
  • Administrator
  • Registered: 21.04.2011
  • Posts: 750

Hello,
Holm Bank has no intention to interfere with operations of Omaraha. The suggestion that Holm Bank will start fulfilling loans, will not happen. That is not the reason the bank was established.
However, there are a few ideas worth mentioning. The owners of Omaraha and Finzo have never earned any earnings or dividends or salaries of any kind from running the platform. I myself have a portfolio of EUR 200 000, which makes me one of the TOP10 investors. My return on investment from that portfolio is about 19-20% annually, which is not bad at all.
We have considered increasing the commission fee from 20% to 25% or even 30%, as it is in Slovakia. Clearly, the investors wouldn’t like the idea, as their profitability would drop by about 2%. In return, we are expecting the repayment of overdue loans to get back to 80%. In addition, we have considered increasing the minimum of repayments from 60% to 70%.
In Slovakia, the profitability is better than in Estonia, but we are currently unable to increase loan volumes there. Staying in the Slovakian market would only work if we were to pay more at the expense of Estonian market. Therefore, despite the slightly higher fees, we believe the Estonian market would see overall benefits!
Good luck!
Arne Veske

arne
 
kkkkk 08.05.2019 15:21:12
  • Registered: 02.01.2016
  • Posts: 7

arne
Hello,Holm Bank has no intention to interfere with operations of Omaraha. The suggestion that Holm Bank will start fulfilling loans, will not happen. That is not the reason the bank was established.However, there are a few ideas worth mentioning. The owners of Omaraha and Finzo have never earned any earnings or dividends or salaries of any kind from running the platform. I myself have a portfolio of EUR 200 000, which makes me one of the TOP10 investors. My return on investment from that portfolio is about 19-20% annually, which is not bad at all.We have considered increasing the commission fee from 20% to 25% or even 30%, as it is in Slovakia. Clearly, the investors wouldn’t like the idea, as their profitability would drop by about 2%. In return, we are expecting the repayment of overdue loans to get back to 80%. In addition, we have considered increasing the minimum of repayments from 60% to 70%.In Slovakia, the profitability is better than in Estonia, but we are currently unable to increase loan volumes there. Staying in the Slovakian market would only work if we were to pay more at the expense of Estonian market. Therefore, despite the slightly higher fees, we believe the Estonian market would see overall benefits!Good luck!Arne Veske

Dear Arne, thanks for this update. Please note that any such change should be applicable only to newly issued loans after the change is announced, not the old ones. Otherwise it would be pretty major breach of investor trust.

kkkkk
 
Andrej 14.05.2019 12:05:39
  • Registered: 23.08.2014
  • Posts: 45

be carefull with that 80%. overal I wish you success and happy you got this licence. hope Omaraha will continue to make good return

Andrej
 
eeanpal 17.05.2019 18:13:49
  • Registered: 28.04.2016
  • Posts: 1

I think that portal sustainability is also important not only invertors return. Situation where only invertors take benefits is not fair in longer perspective. I hope that decision regarding, fees, repayments and etc.. consider need to keep portal alive and bring money also for investors. This is kind of symbiosis and both parties must be satisfied. So if inversotrs loose 1-2% then I cannot imagine today where they will going to “escape” with their money (which competitive investment portal offer better profitability!?)…

Another totally personal request for Arne. How your portfolis is divided by countries, loan types, score… If you are not ready to disclose then we respect your decision.

Thank You for good job.

eeanpal
 
 

Log in