Bondora breaks cash recovery record in October 🥳

Collection & Recovery

Another record bites the dust! October marked the 9th month in a row that Bondora had increased in recovery and collections of unpaid loans. In total, there were 65,518 payment recoveries in the month, a 0.96% increase from September. It also set the record for the most debt recovered in one month.

Bondora's riding the 9th monthly wave of increases in cash recoveries.
Bondora’s riding the 9th monthly wave of increases in cash recoveries.

In-house collections were the only category to decrease, falling slightly from 14,994 to 14,357, representing a 4.2% decline. Bailiff recoveries grew the most, increasing by 961 recoveries—a 4.0% increase from September. All told, Bailiff recoveries accounted for 38.3% of all recoveries, followed by Default & court recoveries coming in with 32.0% of total recoveries.

Most cases continue to come out of Estonia. 46.6% of Estonian recovery cases were in the Bailiff stage, with another 30.1% coming from In-house collections. Finnish recoveries had a higher Default & court recoveries ratio, totaling 4,394, or 21.8% of all recoveries in the country. Cases in Spain grew by 1.6% to 16,670, with the overwhelming majority of cases (12,909) coming in at the Default & court stage.

Recoveries by the count of loans – October.
Recoveries by the count of loans – October.

Debt recoveries hit new record

In October, Bondora hit a new record high of debt recovered, totaling €737,259 in one month. This was a magnificent 12.4% month-over-month increase. Even though Bailiff recoveries were the only category to grow, it was a mammoth 21.4% increase to €580,340. In-house collections remained constant at €200, while Default & court, and Rare case collection fell slightly.

Cash recoveries rose in both Estonia and Finland. Estonia had the highest debt recovered at €333,308—a 4.4% increase from September, while Finland grew by an incredible 36.7% to €296,529. Meanwhile, Spanish cash recoveries fell by 9.7% to €105,828. Recovered cash in Slovakia fell as well—from €2,495 to €1,594—but this is a negligible amount of all Bondora’s recoveries.

The average payment recovered rose to €11.25, compared to €10.11 in September.

Recoveries by cash flow – October.
Recoveries by cash flow – October.

Yearly recovery rate

The current year’s recovery rate is 42.9%—a slight decrease of 0.3%. Yet, recoveries for older originations did better in October than in September. The 2014 recovery rate grew to 49.1% from 48.9% in September, and the 2015 recovery rate was up by 0.4% to 42.0%. They helped the cumulative recovery rate for 2014-2020 remain almost stable, dropping by only 0.1% to 40.8%.

Recovery rate chart – October.
Recovery rate chart – October.

Estonian recovery rate grows again

October brought another rise in the Estonian recovery rate, which hit 47.1% in October, up 3.9% from last month. The Estonian recovery rate for previous years also fared well in October. Estonia’s recovery rate for missed payments rose to 78.1% in 2014 and 61.0% in 2015.

As the Finnish recovery rate fell slightly to 23.5% for the current year, the country’s 2019 recovery rate grew from 41.8% to 43.3%. This is a positive indicator of Bondora’s ability to recover missed payments over time. Lastly, even though the recovery rate for Spanish missed payments fell to 83.2%, it remains the highest recovery rate of any country over the past seven years.

Recovery rate by country – October.
Recovery rate by country – October.

Setting records in October

This month we’re incredibly proud of setting a new record with €737,259 in missed payments recovered. The continued success in recoveries is mainly due to more recoveries from the Bailiff stage of the recovery process. The number of payments and the total cash recovered in October increased.

You can always view missed payment recoveries and all other Bondora data at any time. Check out our real-time statistics to see not only recovery data on all Bondora missed payments, but loan history data, returns data, and more.


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