Bondora originations drop in August
European peer-to-peer lending platform Bondora saw loan originations decline by 6.1 per cent to €14.4m (£12.5m) in August.
This brings the figure down to similar levels as June, following a rebound in July.
Bondora reported that all three markets decreased slightly last month, with Spain marking the most significant decrease, declining by 25.5 per cent to €471,777 worth of originated loans.
The next greatest decline came from Finland, dropping by seven per cent. However, Finland still makes up 57.5 per cent of Bondora’s originations, equating to almost €8.3m.
Estonia declined by just 2.5 per cent, accounting for a 39.2 per cent share of all originations, totalling €5.6m. The average interest rate increased from 21.6 per cent to 22.3 per cent over the period, in line with June.
Read more: Bondora’s summer slump continues as secondary market activity drops
The lender saw more significant declines in its secondary market activity, marking the third month that investors refrained from manual trading.
The number of recovered loans increased by 2.7 per cent to 81,528, the first time Bondora has had loan recovery counts in the 80,000s since a new record was set in April.
Read more: Bondora reports muted activity in June after record May
However, total cash recovered saw a 0.5 per cent decline to just over €1m. The 2014-2022 recovery rate remains at 49.6 per cent.
Investor inflows into the platform declined by 6.2 per cent in August to €14,382,356.
Go & Grow was again the most-used investment product, making up 96.9 per cent of all investments.
Read more: Bondora recruiting for country managers to support EU expansion