Spanish Originations Accelerate Growth for European Lender Bondora, Platform Reports Strong Portfolio Performance

Return rates for 2021 Bondora originations continue to “perform well” in November, as they did in October of this year.

Spanish originations kept rising above the target rate for 2021, along with other rates for the past couple of years. Overall, it was “a steady month with a promising end to the year lying ahead of us,” the team at Bondora noted in an update dated December 27, 2021.

Yearly performance

All the return rates for 2021 originations “were higher in November,” the team at Bondora noted while adding that the cumulative return rate “is now 15.9%, which is 0.1% higher than last month, and 6.4% above target.”

The Spanish origination rate “continued to climb drastically, up to 13.3% from 6.9% in October,” the update revealed while adding that this is “thanks to the relaunch of the Spanish market.”

As noted by Bondora:

“Things also fared well for 2021 originations closer to home; Estonian originations increased by 0.1% and Finnish originations by 0.2%. As they did in October, 2020 originations returned slightly lower at 16.3% compared to 16.5% last month.”

Quarterly performance

Here’s an overview of how returns for all three quarters of 2021 performed last month:

  • 2021 Q1: -0.1%
  • 2021 Q2: +0.1%
  • 2021 Q3: +1.2%

Every quarter from 2020 Q2 is “very competitive compared to their target rates. 2020 Q3 still has the highest return rate over the past several years with 27.6% vs. a target rate of 12.5%.”


Finnish origination rates for the last four quarters are “above their target rates.”

The update further noted that Finnish returns for 2021 Q3 “jumped 0.8% to 7.6%.” More risk-rating categories were “relaunched in Finland in Q4, so it will be interesting to see how they will perform this quarter.”


In Estonia, all seven risk-rating categories are “above target from 2020 Q3 to 2021 Q3. This is an excellent feat.”

Here’s an overview of how all seven originating categories for 2021 Q3 increased in November:

  • A: +0.8%
  • AA: +0.8%
  • B: +1.2%
  • C: +1.5%
  • D: +2.0%
  • E: +2.1%
  • F: +2.3%


Spanish originations for 2021 Q3 continue to “look fantastic and perform above target.”

After growing from 0% last month, 2021 Q3 Spanish originations are “excelling at 13.3% for C-rated loans and 13.6% for HR-rated loans.”

But as was the case last month, 2020 Q1 originations “are far below target.”

The team at Bondora concluded:

“November was another excellent month for Bondora’s portfolio performance, albeit very similar to last month’s. 2021 origination returns overall rose by 0.1%. This is a marginal increase, but Spanish loans showed their strengths after relaunching and exploded in growth. Estonian returns were higher across the board for all origination rating categories. And the most recent quarter, 2021 Q3, is performing well above target.”

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