Bondora sees first rise in secondary market transactions this year
Bondora saw a rise in secondary market transactions in March following three months of decline.
The European peer-to-peer lending platform said it saw an 8.9 per cent increase in transactions from February to reach €166,114.83 (£138,320.39) in March.
This follows a 31.7 per cent drop in transactions from January to February, which marked the third consecutive monthly fall.
Bondora said its portfolio manager transactions increased by 9.5 per cent last month, its first rise since November, to total €8,438 in transactions.
Meanwhile, the platform’s manual transactions fell by 0.2 per cent, which is significantly less than February’s 20.4 per cent decline. Despite this, these still have the majority share of transactions (57.9 per cent), which totals €96,134.
Bondora said that as more investors opt for the automated Go & Grow investment method, it’s natural to see a drop in manual buying and selling of loans on the secondary market but, secondary market activity is known to rise and fall.
Read more: Bondora beats target with 15.1pc returns from 2021 loans
Read more: Bondora plots product launches
“After three months of declines, the secondary market rebounded in March to end the first quarter on a high note,” Bondora said in a blog on its website.
“It’s become the norm to see activity on the secondary market rise and fall. So, after all these decreases, it was a welcome sight to see an 8.9 per cent increase, which led to a total of €166,114.83 being transacted on the secondary market.
“As more investors opt for the hands-free Go & Grow investment method, it’s natural to see a drop in manual buying and selling of loans on the secondary market. But, as the secondary market activity is known to go up and down, let’s see if the activity will pick up again.”