Bondora marks record month for loan recoveries
Bondora has marked a record month for missed payment recoveries.
The European peer-to-peer lender revealed that it recovered more than €2.3m (£1.7m) of missed payments in September, an all-time high.
The figure is a 130 per cent jump from August and the first-time recoveries have passed the €2m mark.
This increase was led mainly by a 138.2 per cent growth in bailiff recoveries compared with the month before, accounting for 88.2 per cent of all cash recovered in the month.
Read more: Bondora sees rising returns in August
Read more: Bondora boosts loan recoveries
However, there was a large difference in cash recovered by originating country, with Estonian cash recoveries up by 311.3 per cent and Finnish recoveries falling by 16.2 per cent.
In total, 70,547 missed loan payments were recovered in September.
Most recoveries were in Estonia, where the rate grew from 73.6 per cent in 2020 to 152.7 per cent of money owed in September 2021
The Spanish recovery rate was also higher in 2021, up by 10.9 per cent to 73.2 per cent, as was the Finnish recovery rate, which was a marginal 0.6 per cent higher.
However, there was a decline in new loan repayments for the month, down 21.3 per cent.
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