Loan portfolio overview (May 2022)



May 2022 loan portfolio

Our investors backed nearly €20,0M worth of loans in May of 2022. The best-performing market was Estonia (€7,0M), followed by Lithuania (€5,0M) and Finland (€3,6M).

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As we predicted last month, repayments improved during May. Our borrowers paid back €14,6M worth of loans and we expect this positive trend to continue into June.

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The default rate has now decreased to 5,2%. We recovered the final project of one Finnish borrower group (€0,8M), and are awaiting repayments from two other Finnish projects (€3,5M). Auctions have been successfully completed in both cases, and we expect the repayments, at the latest, in July. In Estonia, we recovered the last payment (€0,2M) from the Laineoru project, which was one of the longest defaults in our investors’ portfolio. We hope to resolve the defaulted project in Spain by mid-July as we are now in the final stages of selling the project to an investor. We expect a positive return to our investors. Since March, after the war started in Ukraine, the late loans rate has increased. We can assure you that we are tackling the problem and are in constant contact with all the borrowers to solve the issues and receive the late payments. If you’d like to gain some deep insight into how we manage the credit risk situation in all our jurisdictions and the process we have in place to assess and mitigate risk, watch this recent webinar on The Digitization of the Credit Process to Strengthen Decision Making (Please note that the webinar is only in English).

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As of 13.06.2022

Total financed loans since 2014 €586,0M
Total repaid loans since 2014 €333,1M
Total outstanding porftolio €254,9M
Total outstanding default loans €13,2M
Total number of outstanding defaulted loans 48
Default rate (outstanding loans) 5.2%
Partially recovered loans rate (outstanding loans) 0,7%
Default rate (total financed loans) 2,3%
Total amount of recovered loans (including partially) €20,0M
Total number of fully recovered loans 110
Average return rate of fully recovered loans 9,2%
Average time from default to recovery 10,5 months
Write-off rate (total financed loans) 0,007%

We will keep you informed about the credit portfolio quality monthly.