As a measure of transparency (and because it’s super fun), the FBI will be publishing monthly updates on the state of business. I ask that all discussions be limited to the corresponding UFO thread (here), to keep the following area clear for reports.
Report June 3026
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FBI monthly earnings report June 3026
This is the monthly earnings report for June 3026, prepared on the 27 of said month, issued the 27.
Clients
First month of operations started well. Total of 17 loans have been issued to 13 unique clients, for an average loans per client of 1.3. Out of all 13 clients, 12 have been PRO, 1 BASIC, and 0 TRIAL. Average company age at contact was 139 days. 11 clients from Insitor Cooperative, 2 from Castillo-Ito Mercantile.
Loans
Outstanding loans total 198,000,000.00 ICA. All time lending totals 198,275,000 ICA. Smallest loan thus far was 275,000, largest was 30,000,000 ICA. Average loan size is 11,663,235.29 ICA, giving an average debt per client of 15,251,923.07 ICA. No losses to report.
Deposits
First deposit of 20,000,000 matured June 26. Anonymous investment of 140,000,000 ICA added soon after inception, with no expiration date. Three additional deposits of 20,000,000 each were issued the 21, 25, and 26, each lasting 4 weeks. All deposits at a 1% per week interest rate. Personal contributions are 50,000,000 ICA, accounting for 20.00% of total capital. In sum, the bank possess a grand total of 250,000,000 ICA in lendable capital. Of that, 52,000,000 remains available for borrowing.
Profits
The bank expects to collect 26,131,440 ICA from current and completed loans. Accounting for losses and deposits, this comes to a total profit of 22,931,440 ICA over the next few months. This corresponds to a margin over operating expenditure of 10.42%.
Concluding remarks
The bank has established a good rhythm in terms of cash flow. Current issues include lack of advertising success, as well as excess funds sitting idle. Additionally, many brand new players have attempted to apply for loans, all of whom have been turned away. While the bank values their initiative and interest, the core values of the bank do not allow it to lend to such new and inexperienced members of the community, both out of fear of default, as well as a sense of duty to said members that they not entangle themselves in debt too early. All such cases were quickly directed to the Insitor Development authority, with much success. One interesting development has been the prevalence of refinancing performed with the bank. As many players can expect a better rate from the FBI then from other lending institutions (in some cases as high as a 1.25% reduction), many clients have been requesting new loans with the FBI to the amount owed to the other institution. This seems a promising market, which the bank hopes to exploit further.
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Report July 3026
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FBI monthly earnings report July 3026
This is the monthly earnings report for July 3026, prepared on the 25 of said month, issued the same.
Clients
Second month of operations has proceeded apace. Total of 9 loans have been issued to 9 unique clients, for an average loans per client of 1. Out of all 9 clients, 9 have been PRO, 0 BASIC, and 0 TRIAL. Average company age at contact was 139 days. 6 clients from Insitor Cooperative, 2 from Castillo-Ito Mercantile, 1 from NEO Charter Exploration.
Loans
Outstanding loans total 180,500,000 ICA. All time lending totals 376,475,000 ICA. Smallest loan thus far was 275,000, largest was 80,000,000 ICA. Average loan size is 14,479,807.69 ICA, giving an average debt per client of 20,915,277.78 ICA. No losses to report.
Deposits
Deposits issued June matured July 2 (EARLY, MINIMUM INTEREST PAID), July 19, and July 23. 1/2 of anonymous investment repaid with no interest. No further deposits have been added. All deposits at a 1% per week interest rate. Personal contributions are 110,500,000 ICA, accounting for 61.22% of total capital. In sum, the bank possess a grand total of 180,500,000 ICA in lendable capital. Of that, 0 remains available for borrowing.
Profits
Note: this calculation was updated to separate realized earnings from expected earnings.
The bank has collected a total of 18,096,614 ICA from completed loans. An additional 37,485,876 ICA is expected from upcoming loans. Accounting for losses and deposits, this comes to a total realized profit of 15,496,614 ICA, and a total expected profit of 50,382,490 ICA over the coming months. These correspond to a margin over operating expenditure of 7.04% and 22.90% respectively.
Concluding remarks
Client volume remained low this month, likely due in part to a saturation of the market, as well as a decrease in new player accounts. Volume was made up for by some inter-institutional lending, closing out all available capital. A reminder that newer players should take advantage of the CERES and IDA grant programs, run by ICON and COSM respectively, before venturing into borrowing. Additionally, customers turned away due to age or lack of using the above are more than welcome to apply once they have aged into a better rate. Additionally, the market for refinancing has continued, and potential clients are encouraged to approach the FBI for this service with loans from other institutions. Lastly, while current lendable capital sits at 0, barring unforeseen deposits, the bank expects to have 20m available within the next week, and more funds as the month wears on.
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