Building on the record month of originations in July, in August, we saw originations grow in 2 countries (Estonia and Spain). We saw another record month of originations at €2,782,475, topping July’s record of 2.28 million Euro. That’s a 21.5% increase month over month. The loan origination summary for the month of August is detailed below.
Loan origination by country
Estonia is still in the lead with a 56% share of all new originations. Spain is growing in originations at a solid 25% share of new originations while Finland is an 18% share of new originations for the month.
| Share by country – August 2016 | |||
|---|---|---|---|
| Country | Interest | Amount | Share |
| ESTONIA | 26,84% | 1572785 | 56,52% |
| SPAIN | 59,57% | 696860 | 25,04% |
| FINLAND | 34,32% | 512830 | 18,43% |
Loan origination by grade
We are seeing good distribution across the countries and across the loan grades too. Last month, the only country where you could get A and AA loans is Estonia, which has the most loans issued overall. A and AA are a pretty small share of 0.93% and 1.96% shares of all loans issued. That’s less than 3% combined. B grade loans are just under 9% share of all loans from Estonia and Finland.
- Estonia’s originations are primarily in the C-E grades making up 32% of all loans. Interest rates in Estonia and Finland for B-D grade loans are consistent in the mid teens to the high twenties. E and F grade loan interest in Estonia range from 31.71% up to 42.39%.
- Finland’s originations are primarily in the D-F grades making up ~13% of all loans. Rates are slightly higher in Finland for comparable grade loans compared to Estonia. The rate for B grade loans in Finland is 18.92% up to 39.64% for F grade loans (slightly higher than Estonia’s 38.10% for F grade loans).
- Spain’s originations are primarily in the higher interest grades of E, F and HR. Rates in Spain for all 3 grades are higher than the other 2 countries with rates of 36.28%, 42.39% and 63.10%. Spain has the highest amount of HR loans with a 21% share of all loans, while HR makes up a 27% share of all new loans originated in August.
| Share by country and grade – August 2016 | |||||||||
|---|---|---|---|---|---|---|---|---|---|
 ESTONIA |
 SPAIN |
 FINLAND |
|||||||
| BR | Interest | Amount | Share | Interest | Amount | Share | Interest | Amount | Share |
| AA | 9,90% | 25905 | 0,93% | ||||||
| A | 12,54% | 54470 | 1,96% | ||||||
| B | 15,68% | 236240 | 8,49% | 18,92% | 3715 | 0,13% | |||
| C | 21,03% | 345300 | 12,41% | 22,06% | 62910 | 2,26% | |||
| D | 26,54% | 298680 | 10,73% | 27,23% | 158110 | 5,68% | |||
| E | 31,71% | 304180 | 10,93% | 36,28% | 27600 | 0,99% | 33,87% | 103390 | 3,72% |
| F | 38,10% | 209320 | 7,52% | 42,39% | 83000 | 2,98% | 39,64% | 108690 | 3,91% |
| HR | 48,22% | 98690 | 3,55% | 63,10% | 586260 | 21,07% | 52,99% | 76015 | 2,73% |
