Published on: 13 Jun 2019
Equity: Assets Ratio 1:5
We believe the business must be strong enough to sustain double growth numbers and still keep equity buffer on at least 20% level from the total balance sheet. Equity buffer has been historically built with retained earnings, combined with share capital increase in September 2018.
Assignment of Claims in Favour of Bondholders
As security, IuteCredit Group may, subject to its discretion, offer to its Bondholders and other creditors conditional assignment of claims against customers to its debt investors. Maximum coverage ratio is 1,25 ie against 1000 principal debt to an Investor, the Group may conditionally assign claims in favour of the investor where principal claim against the customers is 1250. Assignment can be effected in case of default by the Group.
The Group has policy to distribute 25% of its current net profit as dividends, subject to performance of covenants given to its investors.
The Group maintains its accounts and reporting according to IFRS9. The Group auditor is EY.