Bondora sees second consecutive month of growth in originations
Bondora saw July’s rebound continue into August, when loan originations rose by 11.3 per cent month-on-month to just under €15.79m (£13.7m).
The European peer-to-peer lending platform attributed its second consecutive month of growth to its activity in Finland.
“The Nordic market increased by 34.7 per cent after being very slow-moving in the summer months,” Bondora said. “This totaled €9,337,401 in loan originations in Finland.”
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The platforms newest market, the Netherlands, also contributed to the rise in loan originations.
“Passing the €4m mark for the first time in history, a total of €4,067,370 worth of loans were originated in the Netherlands in the past month,” the firm said.
However, originations in Estonia declined by 33.7 per cent to €2,248,956.
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Bondora said that the Spanish market remains temporarily closed to new customer originations, while it monitors data to change its internal risk-scoring models. It said this would ensure the best possible quality for the loan portfolio.
However, existing customer originations equated to €131,605 last month.
Bondora’s latest update also revealed that 1,404 new investors joined the platform in August. During the month, investors earned over €2m in returns, while cash recoveries and collection efforts also increased to over €1m.
The average loan interest rate decreased from 19.8 per cent to 19.1 per cent.