NBS warning: Provision of loans by peer-to-peer lending

27.04.2016 | Information for the public

Národná banka Slovenska performs integrated supervision over financial market participants in the banking, capital market, insurance, and pension sectors. Financial market supervision also includes implementation of macroprudential policy with supervisory powers in the area of financial consumer protection and protection of other clients. The aim is to contribute to the stability of the financial system and the secure and smooth functioning of the financial market.

Národná banka Slovenska warns the public that the provision of loans between two or more natural persons in a non-business way (known as peer-to-peer lending) as one of the various types of collective funding (also known as crowdfunding [1]) is not subject to NBS supervision. Neither this activity nor the entities that engage in it are subject to the supervision of Národná banka Slovenska. NBS would like to point out that participation in such a form of lending through an internet auction is at the sole risk of the parties involved (investor/lender – borrower/debtor) and therefore the participating entities should consider the risks associated with participating in such an internet auction.

The company Zinc Euro, a. s., having its registered office in Poprad, is one such entity. It operates the www.zinceuro.sk internet portal through which the company provides loans to the public on a peer-to-peer basis.

Národná banka Slovenska has also published a warning about the company iService, a. s., having its registered office in Bratislava, which also performs the above activities through its operation of the www.zltymelon.sk internet portal. Click here for more information.