Bondora originations fall in November
European peer-to-peer lending platform Bondora saw loan originations fall by 6.5 per cent to €14,103,044 (£12,183,967) in November.
Originations were down slightly across all loan markets, except Spain which saw an increase of 3 per cent to €1,174,809 worth of loan originations. Finland originated €7,988,359 and Estonia €4,939,876.
Finland had the biggest market share of originations for November, with 56.6 per cent, Estonia came in second with 35 per cent, and finally Spain with 8.3 per cent.
The Netherlands, which Bondora only opened on 23 September, is currently closed for new originations as the firm evaluates the next steps for this market.
“This is an essential step in our expansion plans to ensure we only scale markets that offer good-quality loan portfolios for our investors,” a company update said.
Across all active loan markets, the overall average interest rate dropped slightly from 21.8 per cent to 21.7 per cent.
Read more: Bondora originations rise in October
Secondary market activity continued a trend of decreased transactions since September.
After October’s dramatic 19 per cent decline, November saw a decline of just 1.4 per cent to €80,8660 (£698,529)
However, API and Portfolio Manager transactions increased by 4.6 per cent and 131.1 per cent respectively.
Collection and recovery figures were the opposite of October. The number of loans decreased, but the amount of cash recovered increased.
The number of recovered loans declined by 0.6 per cent to 84,801 loans. The amount of cash collected increased by 16.9 per cent to €965,780.
In November, most loans were recovered from Estonia (47.5 per cent). However, the most cash was recovered in Finland (48.8 per cent).
Spain’s cash recovery figures increased by 27.8 per cent to €76,836. Netherlands is not yet included in these figures.
The 2014-2022 recovery rate remained relatively stable, declining from 48.9 per cent to 48.3 per cent.
Read more: Bondora loaned €200,000 within a week of Netherlands launch
Investment product funding fell slightly by 5.8 per cent. Investors added €13,997,047 to their accounts.
Once again, Go & Grow was the most-used investment product, making up 96.9 per cent of all investments. It attracted €13,568,020.