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TrustBuddy AB Company Announcement
Further investigation has revealed that the situation is increasingly complex and it will not be possible to continue operations in any form. The Board of Directors concludes that the company is insolvent. To ensure fair treatment of all stakeholders, the Board of Directors, with great disappointment, has decided to file for bankruptcy. The District Court in Stockholm has appointed Lars-Henrik Andersson of Lindahl law firm to handle the process going forward.
Try Wifog.com soon if your are interested in the Nordicmarket it has potential.Trustbuddy seems to be punctured for the moment.
http://www.nyemissioner.se/foretag/planerad-notering/wifog_ab/1298
Hello, anybody home? Question#14 TrustBuddy.com is waiting for some intelligent reply
Trustbuddy comparison LendingClub! A good time to invest!?
Hello ihub board,
Found two articles:
seekingalpha
nordicinvestor
And an interesting chart:
One Year
The 2 articles are very positive. Risk is still high, but it seems the cost saving program is working / starting:
Find more on:
Investors Page
Any news, information, opinion?
Best regards,
soyus1
TrustBuddy to Apply for license to become a Credit Market Institution
http://trustbuddyinternational.com/press-releases/#
Stockholm, 2012-11-21 15:58 CET (GLOBE NEWSWIRE) -- Summary of the Process
TrustBuddy International AB's subsidiary, TrustBuddy AB, (jointly "TrustBuddy" or the "Company") is today announcing its move towards becoming a modern European finance institution by applying for a license with the Swedish Financial Supervisory Authority (Sw: Finansinspektionen) (the "SFSA") to conduct activities as a Swedish Credit Market Institution (Sw: kreditmarknadsbolag). The resolution to move forward with an application filing to the SFSA was made today. A preliminary filing request has previously been sent to the SFSA, to evaluate whether or not TrustBuddy's proposed future structure and business model (see further below) will meet the various criteria for being considered as a Swedish Credit Market Institution. Such preliminary evaluation response from the SFSA has returned positive, however the ultimate approval for TrustBuddy will be ultimately depending on the SFSA's decision to approve TrustBuddy as such Credit Market Institution. Such final approval is at this time anticipated to be made by the SFSA during spring or early summer 2013. Until then, TrustBuddy's business, as currently conducted, will continue as in its ordinary course.
It is TrustBuddy’s opinion that the Company meets all the legal requirements for a full banking license, however the Company is limiting the application to become a Credit Market Institution (Sw: kreditmarknadsbolag), the second most regulated entity within the European Union (the highest being a bank).
Purpose and Motivation
TrustBuddy’s line of business has so far been focused on P2P lending with a highly successful business model, entailing less than a 1 % ultimate default rate whilst at the same time yielding an average 16 % to its P2P lenders. Even with such solid figures, TrustBuddy recognizes that there is a demand for product development and possibilities to provide for in-house debt purchase and debt collection of defaulted debts generated through the Company's P2P lending business.
A part of the P2P lending business involves already today a portion of such debt purchase and debt collection, although by third parties. With a license as a Credit Market Institution, TrustBuddy will be able to purchase and collect the defaulted debts itself and thereby control the full credit chain – from the initial P2P lending to an ultimate debt purchase and collection of such debts. This will entail a more transparent process and a better control of the debt purchase and collection, which will highly benefit both the P2P lenders as well as the P2P borrowers. The license will further bring the possibilities for TrustBuddy to participate in P2P lending with deposited funds.
Recognizing the very high potential for improved revenues, TrustBuddy has therefore decided to broaden its key area of business to include downstream integration of services. This will entail debt purchase, participating in P2P lending and other related services.
To fully meet future demand, and to further develop the Company, a (full) banking license may become a necessity for the Company to hold at a future point in time. However, to maintain control of operational costs and to facilitate a careful organizational integration of the new services and future products, TrustBuddy has decided to at this point apply for the license as a Credit Market Institution, which the Company deems sufficient at this time to be able to meet the demand for the current need for business development. Such license will retain less capital, whereas it has substantially the same requirements from a risk management perspective as a full banking license has and can, therefore, be upgraded without any larger regulatory or organizational demands in the future. TrustBuddy is experiencing a continuous strong growth, and expects to benefit strongly from having a license as a Credit Market Institution.
The duration of the process to receive the license is expected to be approximately six months from today. However, this is a process highly depending on the SFSA and not by TrustBuddy and the Company will therefore be updating the market on the continued process from time to time.
For additional information, please contact:
Jens Glasø, CEO, TrustBuddy International AB (publ)
+47 40 40 47 50, investorcare@trustbuddy.com
http://trustbuddy.com/
http://trustbuddyinternational.com/
About TrustBuddy International AB (publ)
TrustBuddy International AB (publ) is one of the first in the world to focus on arranging loans and capital provision between buddies in Scandinavia in an organised manner. The company is listed at NASDAQ OMX First North in Stockholm. Mangold Fondkommission AB is TrustBuddy International AB (publ):s Certified Adviser and market maker, contact number: +46 8-503 015 50.
--------------------------------------------------------------------------------
This news release was distributed by GlobeNewswire, www.globenewswire.com – a NASDAQ OMX company
TrustBuddy - Lending volume increase more than previously thought. - Guiding - TrustBuddy International AB.
Stockholm, 2012-09-25 11:42 CEST (GLOBE NEWSWIRE) -- TrustBuddy has had a solid growth throughout the third quarter
The trend of loan demand continues to show a clear growth. TrustBuddy has now passed 160 million in granted loans during 2012.
Based on continued demand and solid growth of loans TrustBuddy will pass the previous expectation of lending out 200 million during 2012. The new guideline will be more than 220 million, an increase of more than 10 percent compared with the previous expectation.
A key element in the company's organizational development is to focus on achieving a high degree of automatization to handle larger volumes without any significant increase of costs. Thus it's assumed that sales will continue to grow while costs will be kept within a limited growth.
TrustBuddy has a continued strong and stable growth of both lenders and borrowers in all operating markets.
For additional information, please contact:
Jens Glasø, CEO, TrustBuddy International AB (publ)
+47 40 40 47 50,
investorcare@trustbuddy.com
http://trustbuddy.com/
http://trustbuddyinternational.com/
About TrustBuddy International AB (publ)
TrustBuddy International AB (publ) is one of the first in the world to focus on arranging loans
and capital provision between buddies in Scandinavia in an organised manner. The company is listed at
NASDAQ OMX First North in Stockholm. Mangold Fondkommission AB is TrustBuddy
International AB (publ):s Certified Adviser and market maker, contact number: +46 8-503 015 50.
https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=522650&lang=en
Interim report Q2, 2012 - TrustBuddy International AB
The Board of TrustBuddy International AB (publ.), listed on NASDAQ OMX First North, leaving the following quarterly report for April-June 2012
Summary Januari – June 2012
Second quarter, April-June 2012
• Net revenues amounted to SEK 9,5 (0.1) million
• Operating earnings before depreciation amounted to SEK 1.3 (-2,3) million
• Operating earnings amounted to SEK -1.2 (-1.4) million
• Earnings after tax amounted to SEK -1.1 (-0.7) million
• Cash flow from operating activities after changes in working capital amounted to SEK 3.3 (0.4) million
(TrustBuddy International AB took over 360 Holding AB on 30 June 2011 through a reverse merger. Comparative figures show 360 H with the exception of the balance sheet as of 2011-06-30.)
The entire report period, January-June 2012
• Net revenues amounted to SEK 13,4 (0.1) million
• Operating earnings before depreciation amounted to SEK 2.0 (-5.4) million
• Operating earnings amounted to SEK -3.0 (-5.4) million
• Earnings after tax amounted to SEK -2.9 (-4.7) million
• Cash flow from operating activities after changes in working capital amounted to SEK 3.6 (0.3) million
(TrustBuddy International AB took over 360 Holding AB on 30 June 2011 through a reverse merger. Comparative figures show 360 H with the exception of the balance sheet as of 2011-06-30.)
Summary of the operating subsidiary TrustBuddy AB
The operating activities of TrustBuddy International AB is conducted through it´s subsidiary TrustBuddy AB org. No. 556794-5083 from offices in Stockholm. Figures reported below, refers only to the operating operational activity in TrustBuddy AB.
Earnings for the period
• April 1 to June 30, earnings amounted to SEK 1.7 (-0.9) million
• January 1 to June 30, earnings amounted to SEK 2.8 (-1.8) million
Net sales for the period
• 1 April to 30 June, net sales amounted to SEK 9,5 (1.0) million
• 1 January to 30 June, net sales amounted to SEK 13,5 (1.5) million
Volume and number
• Total number of loans in the second quarter: 13,637 units (+35.9% compared to the previous quarter)
• Total amount lent in the second quarter: 57.6 million (+66.8% compared to the previous quarter)
Report in English attached as PDF file
For additional information:
Jens Glasø, VD TrustBuddy International AB
Tel +47 40 40 47 50
investorcare@trustbuddy.com
http://trustbuddy.com/
http://trustbuddyinternational.com/
About Trustbuddy International AB (publ)
Trustbuddy International AB (publ) is one of the first in the world to focus on arranging loans and capital provision between buddies in Scandinavia in an organised manner. The company is listed at NASDAQ OMX First North in Stockholm.
Certified Adviser
Mangold Fondkommission AB is Trustbuddy International AB (publ):s Certified Adviser and market maker, contact number: +46 8-503 015 50.
TrustBuddy experience a significant increase during the second quarter Guiding TrustBuddy International AB
09:00
TrustBuddy International AB
Company Announcement
TrustBuddy experience a significant increase during the second quarter
Guiding TrustBuddy International AB
Stockholm, 2012-06-26 09:00 CEST (GLOBE NEWSWIRE) -- TrustBuddy continue to
grow and has during the second quarter had a significant increase of both
turnover and loans.
TrustBuddy has delivered over budget with 5, 10 and 11 percent during the first
three months of 2012. During the second quarter the company continues to have a
strong growth and delivers over budget with 11 percent for April and 19 percent
for May.
Overall the company has more than doubled its turnover and the loan amount
being lent out during the second quarter compared to the first quarter 2012.
TrustBuddy has managed to keep its cost structure stable during the strong
growth of the beginning of 2012.
Based on the past six months the trend shows that the growth can be expected to
continue, which helps to support the company to reach the growth targets set up
for the rest of the year and into the coming year.
TrustBuddy AB delivered a result of SEK 1.100.000,- during the first quarter.
We expect to provide at least the same result during the second quarter and
maintain our guidance to pass 200 million in loans at the end of 2012
delivering the expected result of a minimum of SEK10 million and a turnover of
SEK 30 million.
The central part of the companys organizational development focuses on
achieving a high degree of atomization to be able to handle large quantities
without increasing the costs considerably. Therefore the turnover is assumed to
continue to rise while the cost is expected to be able to be kept at a stable
level.
TrustBuddy has taken a strong market position in Norway and Sweden and has a
rising growth of both lenders and borrowers in all operative markets.
For additional information, please contact:
Jens Glasø, CEO, TrustBuddy International AB (publ)
+47 40 40 47 50, investorcare@trustbuddy.com
http://trustbuddy.com/
http://trustbuddyinternational.com/
About TrustBuddy International AB (publ)
TrustBuddy International AB (publ) is one of the first in the world to focus on
arranging loans
and capital provision between buddies in Scandinavia in an organised manner.
The company is listed at
NASDAQ OMX First North in Stockholm. Mangold Fondkommission AB is TrustBuddy
International AB (publ):s Certified Adviser and market m
Interim report Q1, 2012 - TrustBuddy International AB
The Board of TrustBuddy International AB (publ.), listed on NASDAQ OMX First North, leaving the following quarterly report for January-March 2012
Summary januari – mars 2012
• Net revenues amounted to SEK 3.9 million (0.05 million, formerly 360H)
• Operating earnings before depreciation was SEK 0.7 million (-3.1 million previously 360H)
• Operating earnings amounted to SEK -1.8 million (-4.1 million previously 360H)
• Profit after tax amounted to SEK -1.8 million (-4.0 million previously 360H)
• Net cash flow from operations after changes working capital was SEK -0.3 million (-1.1 million previously 360H)
(figures in brackets refer to the corresponding period last year, and former corporate 360H)
This report is a translation and an abstract. For the full quarterly report, please refer to the Swedish version.
Report in English attached as PDF file
For additional information:
Jens Glasø, VD TrustBuddy International AB
Tel +47 40 40 47 50
investorcare@trustbuddy.com
http://trustbuddy.com/
http://trustbuddyinternational.com/
About Trustbuddy International AB (publ)
Trustbuddy International AB (publ) is one of the first in the world to focus on arranging loans and capital provision between buddies in Scandinavia in an organised manner. The company is listed at NASDAQ OMX First North in Stockholm.
Certified Adviser
Mangold Fondkommission AB is Trustbuddy International AB (publ):s Certified Adviser and market maker, contact number: +46 8-503 015 50.
Attachments:
TrustBuddy_Q1_eng.pdf
https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=508545&lang=en
Financial calendar
• Quarterly report for Q1: 31st of May 2012
• Annual general meeting: 26th of June 2012
• Quarterly report for Q2: 30th of August 2012
• Quarterly report for Q3: 29th of November 2012
For additional information
Jens Glasø VD TrustBuddy International AB +47 40 40 47 50
investorcare@trustbuddy.com
http://trustbuddy.com/
http://trustbuddyinternational.com/
About Trustbuddy International AB (publ)
Trustbuddy International AB (publ) is one of the first in the world to focus on arranging loans and capital provision between buddies in Scandinavia in an organised manner. The company is listed at NASDAQ OMX First North in Stockholm.
Certified Adviser
Mangold Fondkommission AB is Trustbuddy International AB (publ):s Certified Adviser and market maker, contact number: +46 8-503 015 50.
Stockholm, 2012-03-15 16:33 CET (GLOBE NEWSWIRE) - Trust Buddy International AB
(publ) 's wholly-subsidiary Trust Buddy AB (Joint Trust Buddy) is part of a
cooperation agreement with the Svea Ekonomi AB on the management / sale of receivables
raised in TrustBuddys lending activities.
The agreement will create a safer and more competitive product
resulting in more stable cash flow and more consistent reimbursement rate for all
lenders.
With this new collaboration will Trust Buddy together a more stable business and
a more competitive product with a better quality for both lenders and
borrowers. This strengthens the Trust Buddy its position as market leader P2P player
in the Nordic market.
För ytterligare information, vänligen kontakta:
Jens Glasø, VD, TrustBuddy International AB (publ)
+47 40 40 47 50, investorcare@trustbuddy.com
http://trustbuddy.com/
http://trustbuddyinternational.com/
Mats Kärsrud, Vice VD Svea Ekonomi AB 08 735 90 00 mats.karsrud@sveaekonomi.se
http://www.sveaekonomi.se/en/corporate
TrustBuddy reports solid rise in lending, with a high proportion of free loans.
http://www.euroinvestor.co.uk/news/2012/02/03/trustbuddy-reports-solid-rise-in-lending-with-a-high-proportion-of-free-loans/11896622
Welcome Capt.buddy! Spread the news on Ihub. Remember TBDY is on Nasdaq OMX First North.
http://www.nasdaqomxnordic.com/firstnorth/?languageId=1
TB
Looks like this could be worth a look ...
I'll put it on my radar & decide if I see
an entry point I like.
GLTYA !!
TBDY
TrustBuddy is one step closer to a release in the German market
08:55
TrustBuddy International AB
Company Announcement
TrustBuddy is one step closer to a release in the German market
Stockholm, 2011-11-29 08:55 CET (GLOBE NEWSWIRE) -- TrustBuddy is one step
closer to a release in the German market.
Following our release of the third quarter results, we have the pleasure of
announcing another reached target for the company; we have received our P2P
payday loan interest model authorization from our cooperating lawyer and bank
in Germany.
The market in Germany, with its population of more than 80 million people and
Europes largest economy, is one of the most attractive markets in Europe for
TrustBuddy. To put that size into context; the German market is five times
larger than all our current markets put together. Naturally, TrustBuddy has
been working on the German launch since the companys foundation, and the work
is paying off. There are currently no online payday P2P loan companies in
Germany, and for a good reason; the German legislative system is very strict
both in terms of legal conditions and in practical terms, making it almost
impossible to create a viable payday loan solution. Still; that is exactly what
TrustBuddy has managed. To be able to launch the German market it is necessary
to have cooperation with a local bank both for identification and to be able to
offer accounts to everyone that wants to become a TrustBuddy member.
This is a big step in the right direction in our work with launching our
services in the German market. We expect to be able to meet the target of
launching the TrustBuddy service into the German market latest within Q2 2012
as previously stated. This timeframe is still the official target however we
may improve on this timeframe.
We will be reporting news from the launches of the Danish and Finnish markets
in December.
Again; if you have any questions to the above or would like to get in touch
with us in an investment context, please do not hesitate to contact us at
investorcare@trustbuddy.com, and we will do our best to cater for your
requests.
Jens B. Glasø
CEO, TrustBuddy International AB (Publ.)
+47 40 40 47 50, investorcare@trustbuddy.com
http://trustbuddyinternational.com/
About Trustbuddy International AB (publ)
Trustbuddy International AB (publ) is one of the first in the world to focus on
arranging loans
and capital provision between buddies in an organised manner. The company is
listed at
NASDAQ OMX First North in Stockholm. Mangold Fondkommission AB is Trustbuddy
International AB (publ):s Certified Adviser and Liquidity Provider, contact
number: +46 8-503 015 50.
https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId480228&messageId586958
© OMXNEWS
TrustBuddy became the first P2P Bank in the world that was listed.
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