The first quarter of 2023 started and ended with “a bang,” according to Bondora.
After February had some of the highest origination and investment figures Bondora has seen post-pandemic, March statistics reportedly surpassed “all previous records to set new all-time highs. Investments and originations topped €23 million each.”
As noted in a blog post by Bondora, 1,645 new investors joined the paltform. In the same month, investors “earned over €2M in returns, and their total investment amount increased by €24M.”
As noted in the update, loan originations “have been growing consistently throughout Q1. Continuing on this growth trajectory, loan originations shot up 21.2% in March.”
According to Bondora, this totals €23,300,618, “which is the new record for Bondora loan originations! We’re thrilled with this result and hope to break more records soon.”
Once again, Finland takes credit “for most of all originations, with €17,404,146, equaling a massive 25.1% growth rate.” In contrast to the previous two months, Estonian originations reportedly “rose by 11.8% to €4,691,713.”
Spain decreased again, “this time by 9.9% to €831,362. And the Netherlands market continues to increase, growing by 91% to €373,397.”
Unsurprisingly, Finnish loans “have the majority, with a 74.7% share. Estonia follows with 20.1%, Spain with 3.6%, and the Dutch market with 1.6%.”
The average loan interest rate “remained stable at 19.5%.”
Activity on the Secondary Market increased. This was “to be expected, as Portfolio Manager and Portfolio Pro were closed in March, and more transactions would occur as investors sold off their loan pieces.”
Overall, activity increased “by 10.4%, equalling €143,169’s worth of transactions.”
All the categories increased, “except for Portfolio Manager, which will now remain at 0 as no new transactions can occur using Portfolio Manager. The API had the most growth, with 37.6%, and Manual transactions increased by 1.7%. Manual transactions still have the most significant share (56.1%), but the API follows closely with 43.9%.”
Once again, there “was solid growth in investments for Bondora. There was a 12.6% growth rate, leading to €23,356,640 being invested.”
Due to “the closure of Portfolio Manager and Portfolio Pro, investors migrated their portfolios to Go & Grow, which affected this month’s figures. However, from April onwards, the figures should stabilize.”
Go & Grow’s share “increased to 99.8%, with the API making up the remaining 0.2%. Go & Grow received €23,204,495 of all investments and the API €51,712.”
According to Bondora, the statistics from March “are excellent in terms of cash recovery. A total of €1,309,760 was recovered to a total of 88,547 loans. This is a 40.9% and 7.1% increase, respectively.”
Remaining consistent with previous statistics, “most cash, and loans were recovered from Estonia, with €830,252 cash and 41,219 loans being recovered.”
In Finland, cash recoveries “increased by 5.4% to €437,516.”
Despite the February growth, Spain’s cash recovery figures “sank by 16.2%, totaling €41,992.”
No recoveries “have yet been made in the Netherlands.”
The 2014-2023 recovery rate “decreased to 52.5% (from 57% in February). 2023’s recovery rate decreased by a lot, now at 72.8%.” As the year progresses, the recovery rate “will likely decline more.”