Bondora sees rise in recoveries for fifth consecutive month
Bondora has recovered €920,640 (£770,847) in January to mark the fifth consecutive month that the number of loans recovered rose.
The European peer-to-peer lending platform achieved a 7.6 per cent increase in cash recoveries from December to January to reach the highest amount in the last three months.
Read more: Bondora’s 2021 returns beat their target rates
The bailiff phase had the highest amount of debt recoveries with 33,579 of all loans recovered, a 44.6 per cent share, and 85 per cent of all recovered cash, which is €782,969.
This was followed by the default and court phase which had the second-largest share (26.8 per cent) with 20,163 recoveries.
The majority of cash recovered was in Estonia (55.7 per cent), which was followed by Finland with 37.4 per cent and Spain (6.9 per cent), both of which saw a drop from the previous month.
Read more: Bondora approaches 200,000 P2P investors
Read more: Bondora sees slight drop in secondary market transactions
“2022 recoveries started the year off on a positive note,” Bondora said in a blog on its website.
“Nearly €1m was recovered in January—the highest amount recovered in the last three months.
“Missed payments and the amount of cash recovered increased from December, showcasing a sustainable and solid month of growth for recoveries. The 2022 recovery rate also started astronomically high, giving us a good foothold for 2022.”