Bondora originations drop in September
European peer-to-peer lending platform Bondora saw loan originations decline by 12.8 per cent to €12,562,218 (£10,834,420) in September.
The fall in originations can be mainly attributed to Finland and Estonia, with the former registering the largest decline (-21.8 per cent), despite still being responsible for the majority of total originations (€6,477,798).
Estonia saw the second largest decline, down 14.9 per cent to €4,809,113.
Meanwhile, Spain originated more than €1m-worth of loans in September, the highest amount since the lender relaunched in the Spanish market in September 2021.
Bondora also launched in the Netherlands on 23 September 2022, raising more than €200,000 (£175,525) in loans for Dutch borrowers within its first week.
The average interest rate increased from 22.3 per cent to 22.8 per cent in September.
Read more: Bondora’s summer slump continues as secondary market activity drops
After three months of consecutive decline, the lender saw an increase in secondary market activity in September, with transactions increasing by 13.9 per cent to €101,007 (£87,058).
The number of recovered loans increased by 2.2 per cent to 83,308. Total cash recovered increased by 6.5 per cent to €1,117,708 (£964,197).
The majority of the cash was recovered from Estonia (47.6 per cent). Finland followed with 45.8 per cent, and Spain with 6.6 per cent.
The 2014-2022 recovery rate remains at 49.8 per cent.
Read more: Bondora recruiting for country managers to support EU expansion
“Although there were some declines in originations and investments, we saw positive increases in secondary market activity, and recovery statistics, with over €1m recovered in September alone,” Bondora said in a blog post on its website.
“We launched the Netherlands loan market and already originated over €200,000 in less than a month. Spain also celebrated its first month of over €1m originated since its relaunch, which excites us even more for the future.”