Bondora originations dropped in August

Bondora has seen a slight drop in originations in August after seven consecutive months of increases.

The European peer-to-peer lending platform saw its originations fall by two per cent to approximately €11.58m (£9.92m) in August, down from €11.8m in July.

Estonian originations decreased by 3.8 per cent, while Finnish originations increased by 1.2 per cent. This brought the total share of Finnish originations on Bondora from 35.6 per cent in July to 36.6 per cent last month.

Furthermore, the cumulative interest rate on all Bondora originations increased by 0.2 per cent to 21.9 per cent.

Once again, Finland only originated D-rated loans while in Estonia, originations shifted slightly to mid-range rating categories.

In August, the average Estonian origination amount continued to fall for the fourth consecutive month, dropping by 7.4 per cent to reach an average of €2,507, whilst the average Finnish loan also totalled €2,507, representing a 1.6 per cent monthly decline.

Read more: Bondora boosts loan recoveries

“Bondora originations had an excellent run for seven straight months,” Bondora said in a blog on its website.

“And while this growth streak came to an end in August, originations still held firm, declining by only two per cent to €11,584,049.

“Interest rates rose across the platform by 0.2 per cent, and there was a strong distribution of Estonian originations across rating categories.”

In August, Bondora saw a 107.9 per cent month-on-month growth in its secondary market transactions and an increase in the number of loans recovered and the amount of cash recovered compared to the previous month.