Bondora profits stumble despite surge in loans issued
Bondora Group reported a sharp drop in its pre-tax profits in its latest financial results, even as the number of loans it issued jumped compared to the previous year.
The European peer-to-peer lending marketplace reported its eighth consecutive year of profitability. It issued 147,000 loans last year, compared to 81,000 in 2023, representing an 82 per cent increase.
Bondora’s loan volume rose 30 per cent to €262m (£225.7m), while revenue increased 19 per cent to €52.6m. Bondora paid out €2.9m in investor returns in December, representing the highest monthly return amount of 2024.
Read more: Bondora investors earned record returns in December
But its pre-tax profits fell sharply from €3.4m in 2023 to €1.2m in 2024. Bondora’s income statement revealed a significant increase in expenses from doubtful receivables, while the company’s payroll expenses, and the cost of its goods and services used, also rose.
Read more: Bondora provides portfolio update alongside revamped statistics page
Bondora chief executive officer Pärtel Tomberg said: ‘’We operate with outstanding efficiency, leveraging automation and data-driven decision-making to scale while staying true to our core values.
“Last year, we strengthened this foundation by expanding our presence, enhancing our investor platform, and maintaining financial stability even in a rapidly shifting environment.”
