Bondora boosts loan recoveries
Bondora saw an increase in loan recoveries last month.
The Estonia-based peer-to-peer lender said cash recovered from defaulted loans had come in at just under €1m (£860,000) during June.
That is the highest figure for recoveries since March 2021.
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Bondora also recovered more missed payments for originations than in May, the platform said.
A total of €969,573 was recovered in June, up 19.2 per cent on the year before.
The average missed payment recovery came to €13.45, a €1.95 increase from the previous month.
Bailiff recoveries performed the best, accounting for 83.7 per cent of all cash recovered and growing by 23.7 per cent on the month.
Default and court recoveries also grew by 7.8 per cent.
It comes after Bondora hit its target of €10m of loan originations during May, declaring 2021 “a year of continuous, sustainable growth”.
“2021 is proving to be a year of continuous, sustainable growth for Bondora. Investments and loan originations continue to build on the momentum we’ve seen since the end of 2020,” Bondora said.
Originations have increased every month since the start of the year, with the majority originated in Estonia.
Finnish originations are growing faster though and now makeup more than 30 per cent of the Bondora loan portfolio, the platform said.
Estonian originations are up by just under nine per cent while Finnish originations have increased by more than 23 per cent.
Bondora expects more lending once it reopens to the Spanish market later this year.
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