European P2P lender Bondora notes that after a “booming” September, where the platform managed to recover over €2.3 million in missed payments, these figures “subsided” during the month of October 2021.
As mentioned in a report from Bondora, there was a total of €977,354 that was recovered. Still, “even as the total cash recovered dropped back down to earth, the number of recoveries grew over the month.”
The company further noted that “a total of 70,876 missed payments were recovered in October, accounting for a slight 0.5% month-over-month increase.” Bailiff recoveries “still led the charge, up 1.5% on the month, accounting for 46.2% of all Bondora recoveries,” the company added. Nearly the exact number of skipped payments “were recovered in Spain and Finland, while Estonian missed payment recoveries rose by 1.4%,” the firm noted.
As stated in the report from Bondora:
“Unlike missed payment recoveries, the amount of cash recovered fell drastically this month down to €977,354—a 58.3% decline. Yet, this is to be expected as the amount of cash recovered in September seems to be an outlier compared to previous months in 2021. In October, Spanish recoveries went against the grain and totaled €92,368—a 1.2% increase.”
An unsustainable €33.26 average missed payment recovery in September “fell back in line with previous months at €13.79,” the report added.
Yearly recovery rate
At 82.7%, the total return rate for 2021 is “still holding well above historical numbers. Meanwhile, 2014 and 2015 recovery rates grew by 0.1% and 0.3%, respectively.” All told, the cumulative return rate for 2014-2021 “came in at 47.1%—a 0.7% decline,” the update revealed.
Recoveries by country
As noted by Bondora, the recoveries for 2021 Estonian originations “remain the outlier with a 145.3% recovery rate.” At 21.5%, Finnish recoveries for 2021 were “in-line with September.” Finnish recoveries also “fared well for 2020 missed payments, with the return rate growing from 27.1% to 28.0%,” the report noted.
Recoveries reverse to back to the norm
As stated in the update:
“After what appeared to be an outlier month of more than €2.3 million in cash recovered, Bondora missed payment recoveries came in at numbers that more closely resemble historical figures. An average missed payment of €13.79 and a cumulative return rate of 47.1% for 2014-2021 are figures that should feel more familiar to Bondora investors in 2021.”
You may review skipped payment recoveries and all other Bondora data at any time. Check out their real-time stats to view recovery data on all Bondora missed payments, as well as the loan history, returns data, and other pertinent information.