After a booming September, where Bondora recovered more than €2.3 million in missed payments, these figures subsided in October. A total of €977,354 was recovered. Still, even as the total cash recovered dropped back down to earth, the number of recoveries grew over the month.
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. Almost the exact number of missed payments were recovered in Spain and Finland, while Estonian missed payment recoveries rose by 1.4%.
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.
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.
Recoveries by country
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%.
Recoveries reverse to back to the norm
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.
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