Bondora recovered €872,189 in November
Bondora saw a 2.2 per cent month-on-month increase in recoveries of defaulted loans in November, equating to €872,189 (£743,023).
The European peer-to-peer lending platform said that loan payments were most commonly recovered by bailiffs, equating to 45.8 per cent of recoveries last month.
Recoveries in all countries grew, but Estonia still had the highest recovery rate, with 32,397 recoveries, while Finland had the highest amount of payments recovered, equating to a 45.6 per cent share. This was followed by Estonia (43.6 per cent) and Spain (10.7 per cent).
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Bondora said that 2021’s return rate was 79.2 per cent in November, down 3.5 per cent from October.
The return rates for 2014, 2015, and 2016 all increased slightly, Bondora said.
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“November was another stable month for Bondora’s recovery and collection efforts,” Bondora said in a blog on its website.
“After the massive €2.3m cash recovery in September, we’re happy to have another month of steady figures. Missed payment and cash recoveries closely resembled last month’s. Overall, the high recovery rate for 2021 will mean good things for years to come.”