Bondora achieves record recoveries in April

Bondora recovered a record 79,281 in missed payments in April, despite seeing a drop in cash recoveries.

Last month, the European peer-to-peer lending platform’s recovered missed payments increased by 2.3 per cent from March while its cash recoveries dropped by 35.8 per cent over the same month to reach €802,718 (£682,057).

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Most recoveries were made during the bailiff phase, accounting for 33,358 loans, which equates to a 43.3 per cent share, followed by the default and court phase, with 20,663 recoveries – a 26.1 per cent share.

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“We entered the second quarter on a high note; we had our highest number of recovered missed payments in the history of Bondora – 79,281,” Bondora said in a blog on its website.

“This is the second month in a row of setting a new record, so let’s see what will happen in May. Estonia holds the lead in recovery rates from 2014 to 2021, but when it comes to 2022, Spain continues to lead the charge.

“Although the cash amount recovered is more minor than March’s €1,249,637, recovering €802,718 is still a feat that leaves us satisfied.”

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