December recoveries remain solid on Bondora

Collection & Recovery

After a record-breaking month for recovering missed payments in November, recoveries were slightly lower in December but still impressive. A total of 67,347 missed loan payments were recovered on the month, compared to 67,535 in November. This marks a slight decline of only 0.3%. Thank you to our dedicated teams who made this happen.

A total of 67,347 missed loan payments were recovered in December
A total of 67,347 missed loan payments were recovered in December.

A few different recovery categories bucked the month’s overall trend. Bailiff recoveries rose by 4.4% to 26,961, and rare case recoveries were up by 3.5% to 5,390. The total number of recoveries in Estonia (29,979) and Spain (17,084) were also higher. Meanwhile, Finnish recoveries were down to 20,034, a 3.0% decline.

Cash recoveries

The amount of cash recovered declined by 10.0%, falling to €746,502, following two straight months of record-high numbers. While the number of missed payments in Estonia and Spain increased, the total amount of cash recovered was actually lower. Estonia’s recoveries totaled €413,266 (down 9.2%), while Spain’s recovered payments totaled €92,504 (down 7.8%).

As a result, the average missed payment recovered for each originating country came to:

  • Estonia: €13.79
  • Spain: €5.41
  • Finland: €11.89
Recoveries by cash flow – December 2020
Recoveries by cash flow – December 2020

Yearly recovery rate

Recovery rates for the most recent two years remain strong. Recoveries for 2019 originations dropped slightly by 0.3% to 50.1%, which is still our highest recovery rate on record. Meanwhile, the recovery rate for 2020 was slightly higher, up to 42.8% in the month. All told, recovery rates for each year were reasonably stable, not changing more than 1% for any given year.

Recovery rate – December 2020
Recovery rate – December 2020

Recoveries by country

The 2020 yearly recovery rate grew due to a 2.5% increase in the rate of recovery on Estonian originations, which came to 54.5% in December. Spanish recoveries, while down slightly, were still quite high at 72.1% for the year.

One unique historical piece of information is that the 2014 recovery rate for Estonian missed payments, which has been the highest recovery rate for Bondora, actually grew even higher, up to 78.4% from 78.2% in November.

Recovery rate by country – December 2020
Recovery rate by country – December 2020

Conclusion

Even though Bondora recoveries as a whole fell in December, the statistics are still promising. Altogether, 67,347 missed payments totaling €746,502 were recovered in December. And instead of falling as expected, the 2020 recovery rate grew over the month, settling at 42.8%.

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.