Truist Financial is ending its partnership with the fintech GreenSky shortly after announcing a deal to buy another company that also specializes in point-of-sale lending.
Atlanta-based GreenSky disclosed the partnership’s demise on Wednesday, one day after Truist said it will pay $ 2 billion to acquire a Florida-based consumer lender. GreenSky said in a securities filing that it does not expect Truist’s decision to have a material impact on its profits.
“Demand for GreenSky program consumer loans from multiple funding sources remains high, cost of funds across funding sources remain low, and GreenSky continues to be poised for strong profitability,” the company said.
Loans for home improvement projects have been a focus for both GreenSky and Service Finance Co. Truist Financial has agreed to pay $ 2 billion to acquire the latter company and is ending its partnership with the former.
Read Also
- Parma returns to the top of baseball in Europe: triumph over Bonn 6-4 Jul 17, 2021
- The 15-month highs of the Ibex 35 are an opportunity in these values May 30, 2021
- European capitals will compete for the “green crown” Jul 2, 2021
- Biden vows to combat monopolies and supply gaps as prices rise May 28, 2021
- Pesticides: Glyphosate sales drop 10% in 2021 Nov 15, 2022
- Elon Musk’s ultimatum to Tesla executives: go back to the office or leave Jun 1, 2022
- OHL deletes the inheritance of Villar Mir from the name and is renamed OHLA Jul 6, 2021
Bloomberg
GreenSky offers technology that merchants such as home contractors can use to offer installment loans to consumers. Those loans are often funded by GreenSky’s financial institution partners.