According to the community a FI is defined as “a company whose business involves the arrangement and execution of financial and monetary transactions, including deposits, loans, investments, and currency exchange. More specifically, the SBTi deems a company a financial institution if 5% or more of its revenue or assets comes from the activities described above”.
If the Income Statement of the company reports “Transaction revenue” what kind of revenue in that regard would classify as arrangement and execution of financial and monetary transaction? Would fees from making a monetary transaction possible fall under that definition or would the company rather be classified as a company within the ICT sector? Additionally, there is also “Net-Interest Income from interest margin business”. Can that be regarded as financial/monetary transaction to be regarded a financial institution?
Thank you for your input and kind regards,