As expected, June’s cashflow figures are lower than May’s, which skyrocketed due to the sale of old, defaulted loans from the Estonian market. Our cash recovery decreased by 63.0% to €815,746. But in contrast, the number of recovered loans increased by 3.4% to 78,972 loans recovered. Read more:
Overall, in June, we recovered a total of 78,972 loans – an increase of 3.4% from May. Estonia remains in the lead with a 45.0% share, increasing its segment by 5.1%. Finland remains in 2nd place with a 32.8% share, a 3.8% increase in the number of loans. And Spain’s number of loans recovered increased by 0.3%, but its overall share declined by 0.7% to a 22.2% segment.
The distribution of loan recoveries across the various stages remains consistent with past statistics, with the Bailiff phase still retaining the largest portion. A total of 32,544 loans—a majority of 41.2% were recovered during this phase. The Default & Court phase had 19,709 recoveries—a 25.0% share. Hot on their heels with a 24.0% share is In-house collections with a solid 10.6% increase to 18,928 recoveries.
Cash recoveries
As per the last couple of months, most cash was recovered from Estonia—€399,234 and a 48.9% share. Once again, Finland is in 2nd place with a 43.0% share, and Spain in 3rd with an 8.0% share. Estonia had a significant decline of 75.5% due to the phenomenal increase of 330.4% in May from the defaulted loan sale. Finland decreased its cash recovery position32.5%, and Spain increased by 17.1%.
Regarding the cash recovered, there were declines across the board. In-house collections reverted to having a 0% share. Rare cases have a 4.9% share. The Default and Court stage has a 10.7% share. And the Bailiff stage accounts for the most cash, recovering 83.2%.
Yearly recovery rate
At the end of Q2, our 2022 recovery rate is 91.7%. This is a very good, high recovery rate.
In June, the most recent 5 years showed slight declines in their yearly recovery rates, compared to just 2 in May. The lowest rate is again from 2017, which remains steady at 30.7%. 2021 still has the highest rate with 70.6%. When comparing the current mid-2022 rate of 91.7% to last year’s mid-2021 rate of 57.6%, it is clear that 2022’s recovery rate is quite impressive. The current 2014-2022 recovery rate is a solid 50.7%, down 0.3% from May.
Recoveries by country
In June, Estonia took the lead from Spain, which had been the outlier for a couple of months. This means Estonia is leading in recovery rates from 2014-2022. Estonia now leads with a 101.4% recovery rate, with Spain on its heels at a 97.0% rate. Finland brings up the rear with 75.1%, which is quite the drop from 93.1% in May.
As was the case in previous months, Estonia retains the lead for the other years before 2022. Its most significant lead is in 2021, with 117%, Spain takes 2nd with 43.8%, and Finland trails with 29.4%.
Summary
Estonia has now taken the lead in all our yearly recovery rates from 2014 to 2022, but with Spain just a few percentages behind, we will have to see if this continues to be the case. Despite expected declines in cash recovered, we’re happy that we saw an increase in the number of missed payments collected. And the overall recovery rate across countries is painting a good picture for the 2nd half of 2022.
You can always view missed payment recoveries and all other Bondora data. Check out our real-time statistics to see recovery data on all Bondora missed payments and loan history, returns data, etc.