Bank holiday today: All public and private banks in Shillong will be closed today, on September 18 due to Unitarian Anniversary Day celebrations.Unitarian Anniversary Day is primarily celebrated in Meghalaya in the honour of the founding of the Unitarian Church in 1887 by Hajjom Kissor Singh. This year (2025), marks the 128th anniversary of the birth of Khasi Unitarianism which is celebrated by gatherings and special services to commemorate the church's legacy.Notably, banks across India, including the Stat ...

Bank holiday today, on September 17: Today is Vishwakarma Puja, and many must be wondering if this means that banks in India will be closed on the occasion.The answer is no. As per the Reserve Bank of India's official list of bank holidays in India for 2025, today is not a bank holiday. In fact, The RBI has listed only two holidays for public and private banks in the week of September 15-21, 2025, due to a regional observance.Notably, banks across India, including the State Bank of India (SBI), remain close ...

Core Insights - Multitude Capital Oyj published its Half-Year 2025 Report, highlighting significant financial improvements compared to the previous year [1] Financial Performance - The net interest income for the first half of 2025 was EUR 614 thousand, a substantial increase from a loss of EUR 64 thousand in the same period of 2024 [2][4] - The profit before income tax for H1 2025 was EUR 495 thousand, compared to a loss of EUR 141 thousand in H1 2024 [2] - Net cash flow from operating activities was EUR 1,683 thousand, up from EUR 518 thousand in the previous year [2] Funding Strategy - Multitude Capital Oyj has issued EUR 100 million in senior unsecured bonds under its EUR 150 million bond programme since its inception in June 2024 [3] - The bonds have a floating rate coupon of 3-month EURIBOR plus 6.75% and are listed on the Frankfurt Stock Exchange and Nasdaq Stockholm [3] Financial Position - As of 30 June 2025, total assets amounted to EUR 76.9 million, an increase from EUR 74.7 million at the end of 2024 [5] - Total liabilities were EUR 76.4 million as of 30 June 2025, up from EUR 74.6 million at the end of 2024, primarily due to debt securities issued [5] Company Overview - Multitude Capital Oyj serves as a funding vehicle for Multitude Group, which offers digital lending and online banking services through various business units [6][7] - Multitude Group operates in 25 countries, employing over 700 people and achieving a combined turnover of EUR 264 million in 2024 [7]

Core Viewpoint - The article discusses the potential growth and market share gains of fintech companies SoFi Technologies and Remitly Global, suggesting they will outperform Upstart Holdings in the coming years [1][5][13]. Group 1: SoFi Technologies - SoFi Technologies has shown a strong recovery, generating positive earnings and reaching a customer base of 11.75 million, growing at a 51% compound annual rate since 2021 [3][4]. - The company's total revenue grew by 44% to $855 million in the last quarter, with net income increasing by 479% year over year to just under $100 million [4][5]. - SoFi's market cap is currently around $25 billion, with a price-to-earnings ratio (P/E) of 46, indicating potential for future growth as it expands its operations as an online bank [5]. Group 2: Remitly Global - Remitly Global, with a market cap of $3.3 billion, is a remittance services provider that has faced challenges but continues to show promise [8]. - The company reported a 34% year-over-year revenue growth to $334 million, with net income of $11 million, supported by strong unit economics and low fixed costs [11]. - With a revenue base of $1.356 billion, Remitly has the potential to achieve a market cap larger than Upstart if it continues to gain market share in the remittance sector [12]. Group 3: Upstart Holdings - Upstart Holdings has struggled to generate sufficient profit, projecting only $35 million in total net income for 2025, leading to a forward P/E of over 100 [14]. - The company has a high cost base due to significant spending on customer support, technology development, and marketing, limiting its ability to disrupt traditional lending methods [14][15]. - Upstart remains a niche player in the lending space, with a challenging path ahead compared to the brighter prospects of SoFi and Remitly [13][15].