P2P Lending / NFT Lending Forum

General Category => General P2P Lending Discussion => Topic started by: rawraw on February 17, 2020, 11:00:00 PM

Title: Lending Club Is A Bank
Post by: rawraw on February 17, 2020, 11:00:00 PM
I've been saying this for years!  About time: https://www.cnbc.com/2020/02/18/lendingclub-buys-radius-bank-in-first-fintech-takeover-of-a-bank.html
Title: Lending Club Is A Bank
Post by: AnilG on February 17, 2020, 11:00:00 PM
About time, but most probably not good for retail lenders, as they may be phased out, with cheap access to deposit capital.
Title: Lending Club Is A Bank
Post by: Fred93 on February 18, 2020, 11:00:00 PM
Quote
Title: Lending Club Is A Bank
Post by: TravelingPennies on February 18, 2020, 11:00:00 PM
Here's another cute quote from the story...
Quote
Title: Lending Club Is A Bank
Post by: Rob L on February 18, 2020, 11:00:00 PM
At the open at least the equity market isn't impressed. LC is down $1.20 per share (-9.12%) to $11.96 per share.
They did announce quarterly earnings last evening which is a major factor of course.
Where it will close is anyone's guess. BTW the Dow is up 82.
Title: Lending Club Is A Bank
Post by: TravelingPennies on February 18, 2020, 11:00:00 PM
Quite a day for LC stock. Rallied from a low of $11.66 around 10 am into the close and finished at $12.98 a share; a loss of only 1.37%.
The volume was 3x an average day.
If I'm not mistaken they reported their first quarterly profit ever. What's not to like  :)
Title: Lending Club Is A Bank
Post by: TravelingPennies on February 18, 2020, 11:00:00 PM
You can't make this stuff up; largest loan asset segment "Yachts". I didn't Photoshop it; really.
Wow, must be Boston  :)


Title: Lending Club Is A Bank
Post by: TravelingPennies on February 18, 2020, 11:00:00 PM
I saw that.  At least they're probably secured loans.

There's an error on that slide.  See where it says "(in millions)"?  Those aren't millions.  Must actually be thousands.

$1,077,335 (millions) would be 1 Trillion dollars worth of yachts, which would be one hellofa lotta yachts.
Title: Lending Club Is A Bank
Post by: TravelingPennies on February 19, 2020, 11:00:00 PM
Fred, I think they meant institutional debt providers, not purchasers of loans
 
Without a portfolio of loans, LendingClub will have extreme volatility of earnings. Balance sheet interest income will mitigate that issue a bit
Title: Lending Club Is A Bank
Post by: TravelingPennies on February 19, 2020, 11:00:00 PM
from: Fred93 on February 19, 2020, 10:00:36 PM
Title: Lending Club Is A Bank
Post by: TravelingPennies on February 19, 2020, 11:00:00 PM
from: Fred93 on February 19, 2020, 01:22:47 AM
Title: Lending Club Is A Bank
Post by: TravelingPennies on February 19, 2020, 11:00:00 PM
from: rawraw on February 20, 2020, 08:06:44 AM
Title: Lending Club Is A Bank
Post by: jrl on February 19, 2020, 11:00:00 PM
from: Rob L on February 20, 2020, 08:57:01 AM
Title: Lending Club Is A Bank
Post by: TravelingPennies on February 20, 2020, 11:00:00 PM
from: jrl on February 20, 2020, 09:12:40 PM
Title: Lending Club Is A Bank
Post by: TravelingPennies on February 20, 2020, 11:00:00 PM
from: Fred93 on February 19, 2020, 01:22:47 AM