€773,447 Recovered in February

Collection & Recovery

After a very ambitious January, the collection and recovery numbers settled more in February. The number of payments and the cash collected declined by 0.6% and 16%, respectively. This is the first time in 6 months that the number of payments recovered didn’t increase. A total of 74,786 payments were recovered, and €773,447 cash was recovered.

€773,447 Recovered in February
€773,447 Recovered in February

As we’ve seen for many months, the most recoveries are made in the Bailiff phase, accounting for 33,593 loans, which is a majority 44.9% share. The Default & Court phase had the second-most, with 20.271 recoveries—a 27.1% share.

The number of loans recovered from each country remained very similar to January, despite the slight decline in recoveries made. Estonia makes up 46.1%, Finland 30.8%, and Spain 23.1%.

Recoveries by the count of loans – February 2022
Recoveries by the count of loans – February 2022 (Click to enlarge)

Cash recoveries

In February, the total cash recovered amounted to €773.447, which is a 16.0% decrease. In contrast to the last 2 months, the most cash was recovered from Finland. A total of €426,124.00 was recovered—a 55,1% share. This is a 23.9% increase from January.

Estonia now has the second-highest amount of cash recovered, with a 37,6% share, a significant 43,3% drop. Spain now has a 7,3% share in recovered money.

And it comes as no surprise that the Bailiff stage accounted for the most recovered cash, which came to €642,159. This is a decline of 18,0% from last month. Interestingly, the Default and Court stage increased by 4.5% to a 12.8% share, which is €98,855.

Recoveries by cash flow – February 2022
Recoveries by cash flow – February 2022 (Click to enlarge)

Yearly recovery rate

In January, the 2022 recovery rate peaked at 261.5% and started to level out in February to 137.1%. As mentioned last month, it’s entirely normal for the recovery rate to be very high at the beginning of a new year (as you can see from last year’s recoveries in February). But as more data becomes available for 2022 recoveries, we can expect this rate to normalize.

Following the same trend as in January, yearly recovery rates from 2018-2021 dropped slightly, but, in contrast, 2014-2017 showed slight increases. 2021 still has the highest rate with 71.4%. The current cumulative 2014-2022 recovery rate stands at an impressive 55.3%.

Recovery rate – February 2022
Recovery rate – February 2022 (Click to enlarge)

Recoveries by country

Finland remains the main outlier for 2022 recoveries. Its 2022 recovery rate of 179,9% is far above the rest. But, it must also be said that it more than halved from January’s 372.1%. Spain remains in 2nd place with a recovery rate of 134.4%, nearly half of what it was in January (231.4%). Estonia takes 3rd place with 107.4%—80.5% less than last month. Interestingly enough, Estonia remains in the lead for all the other years before 2022.

Recovery rate by country – February 2022
Recovery rate by country – February 2022 (Click to enlarge)

A solid month for recoveries

As we progress into Q1 of 2022, the recovery rates, which began astronomically high in January, are starting to settle more. But, we do expect it to remain relatively high. Estonia holds the lead in recovery rates from 2014-2021, but Finland charges in first place for the 2022 recovery rate. Although the number of payments and cash amount recovered is less than last month, recovering €773,447 in one month is still work we’re proud of.

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.