Bondora originations and investments dip in September
Loan originations and investments at Bondora dropped in September, after continued increases across July and August.
Both originations and investments declined by 5.1 per cent in September, month on month. However, the platform noted that cash recoveries did well, totalling almost €2m (£1.75m) in September alone.
The Estonia-based peer-to-peer lender reported that 1,039 new investors joined the platform last month. Investors earned more than €2m in returns during September, and the platform’s total product investment amount increased to €869m.
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“Breaking the growing streak from the last two months, September slowed down loan originations by 5.1 per cent,” a Bondora spokesperson confirmed. “Falling from €15,785,232 in August to €14,177,543 in September.”
Despite the overall decline in loan originations, Finland saw a 7.8 per cent increase. Meanwhile, Estonian loan originations grew by 4.7 per cent, totalling €2,354,016.
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Bondora added that Estonia was the market with the highest cash collection, with €1,112,075 recovered. In Finland, cash recoveries totalled €702,611, and in Spain, we recovered €85,295. In the Netherlands, the platform completed its first cash recovery of €60.
“We’ve recently started using new data sources with more exact results than we’ve used previously,” said a Bondora spokesperson.
“We made considerable strides in September across all our active markets, recovering €1,900,071.”
Bondora added that in September, the average loan interest rate rose from 19.1 per cent to 19.6 per cent.
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