Bondora has reported another record-breaking month after recovering €2,204,584 from 76,359 loans in May.
The European peer-to-peer lender said that this is one of the highest figures in its history and a new record for 2022.
In line with the previous month’s data, the majority of the loans recovered were originated in Estonia, with a 44.3 per cent share. Finnish loans took second place with a 32.8 per cent share, and Spain was in third place with a 22.9 per cent share.
Due to the sale of a package of defaulted loans from the Estonian market, Bondora saw a “phenomenal” 174.6 per cent increase in recoveries, month on month.
The P2P lender told investors that it expects to revert to more familiar figures next month, as this sale of old loans was an outlier in statistics.
“As has become the norm, most recoveries were made during the bailiff phase, accounting for 32,031 loans—a majority 41.9 per cent,” Bondora said in a blog on the company’s website.
“Again, the default and court phase had the second-most, with 19,620 recoveries – a 25.7 per cent share.”
Bondora added that the number of in-house collections increased by 3.2 per cent to take a 22.4 per cent share of the total cash recovered last month.
“Our collection and recovery figures continue to shine in 2022,” said Bondora.
“With a new record high for cash recovered in 2022, we’re happy with our collection efforts.”
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