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TSB lends through Harmoney

TSB Bank has revealed it has lent $50 million in peer-to-peer loans via Harmoney.

Sunday, June 11th 2017, 9:21PM

It operates as an institutional investor on the platform, which matches lenders with borrowers.

In its annual report, TSB said the relationship aligned with its diversification strategy and was a way of supporting customers indirectly.

It said the lending facility was “relatively new”.

The Harmoney loans are unsecured.

Heartland Bank, which has a 12.6% shareholding in Harmoney, also offers money to peer-to-peer borrowers. It had lent $62m by the end of last year.

 

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