⬆️Missed payment recoveries grew across all countries

Collection & Recovery

Bondora recoveries are back on the upswing. In January, a total of 69,009 missed payments were recovered. This is a 2.5% increase compared to December. Thank you to our dedicated teams who made this happen.

Missed payment recoveries grew across all countries in January.
Missed payment recoveries grew across all countries in January.

Once again, Bailiff recoveries led the way, accounting for 40.8% of all recoveries on the month. The Default & Court recoveries category grew by 3.7% to a total of 21,464. In-house collections were the only category to drop, declining by 3.1% to a total of 13,845.

All origination countries increased their missed payment recoveries in January by the following margins:

  • Estonia: +2.2%
  • Spain: +0.9%
  • Finland: +4.2%
Recoveries by the count of loans – January 2021
Recoveries by the count of loans – January 2021

Cash recoveries

While the total number of recoveries grew during January, the amount of cash recovered actually decreased. A total of €677,325 was recovered in the month—a decline of 9.3%. This put the average missed payment at €9.82 compared to €11.08 in December. Finland was the only originating country with growth in cash recoveries—up by 1.7% to €242,140.

Recoveries by cash flow – January 2021
Recoveries by cash flow – January 2021

Yearly recovery rate

The recovery rate for 2021 came in at an astonishing 365.8%. This recovery rate is out of proportion compared to historical Bondora recovery rates. It is still entirely normal to start a new year (as you can see from last year’s recoveries in January). As time passes and more data becomes available for 2021 recoveries, expect this rate to normalize. Yearly recovery rates for all other years dropped slightly as to be expected, with 2019 maintaining the highest rate at 49.2%.

Yearly recovery rate – January 2021
Yearly recovery rate – January 2021

Recoveries by country

Leading the charge on the outsized recovery rate for 2021 is Estonian recoveries, which came to 754.6%, followed by Spain at 476.3%. Again, expect these recovery rates to normalize in the coming months, similar to previous years.

The most surprising recovery rate was in Finland, where the 2020 rate jumped up to 97.4%. This indicates a massive monthly growth rate of 76.2%. In contrast, Estonian recoveries plummeted over the same period, with the recovery rate falling from 54.5% to 21.6%.

Recovery rate by country – January 2021
Recovery rate by country – January 2021

Conclusion

As a whole, Bondora recovered 2.5% more missed payments in January compared to the previous month. However, less cash was recovered, with the average recovered payment coming to €9.82 compared to €11.08 a month before. Return rates for 2021 started with a bang but can be reasonably expected to fall in-line with historical rates as the year progresses.

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.