March was an incredibly successful month for Bondora recoveries. Bondora hit a record-level of cash recovered on the month: €1,255,538. This is the first time in history that we’ve passed the €1M mark! This was an incredible cross-team effort – thank you to everyone who made this happen.
Interestingly enough, even with the record-breaking level of cash recovered, the total number of missed payment recoveries actually fell on the month, albeit only slightly. All told, 69,400 missed payments were recovered in March, a 1.3% decline compared to February. Bucking the trend were Bailiff recoveries (+3.0%) and Rare case recoveries (+4.1%).
A new cash recovery record
€ 1,255,538’s worth of missed payments was recovered this month, which is a staggering growth rate of 67.8% from February. Bailiff recoveries was the category leading the charge with €1,030,721—a. 82.8% jump. This puts the average missed payment recovery at €18.09 compared to €10.64 in February.
Cash recoveries in March didn’t just grow compared to previous months; they shattered the previous monthly record of cash recoveries by 52% set in November 2020.
Yearly recovery rate
The cumulative 8-year recovery rate came to 46.8% in March, only a 0.12% decline from last month. The most significant change was the recovery rate for 2020 originations, which grew from 3.1% to 44.4%. All told, 4 out of 7 yearly recovery rates were higher over the month.
Recoveries by country
The 2021 recovery rate for Spanish originations remains exceedingly high, coming in at 147.5%. Meanwhile, the Finnish recovery rate dropped significantly, although it is still in line with previous years’ rates at 43.3%. Simultaneously, the Estonian rate of recovery for 2020 was higher, up from 55.4% to 63.5%.
A record-breaking month
It was a record-breaking month for Bondora recoveries. We recovered €1,255,538 in missed payments, shattering the previous cash recovered record by a whopping 52%. Historic yearly recovery rates are rising, which is counter to the trend usually seen over time. This is terrific news that should be recognized for the Bondora platform. Many thanks to those who made it happen: It’s a result of great teamwork!
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, returns data, and more.