Both the number of loans recovered and the amount of cash recovered from missed payments jumped higher in August. This is the opposite of the trend in July, which saw these two figures going in opposite directions.
With 74,261 missed payments recovered in August, there was a 2.4% month-over-month increase in recoveries. This month, all recovery stages had more recoveries, with in-house collections experiencing the most significant jump of 9.7% to 13,742. This was also true of recoveries by country, which was higher across the board. Estonian recoveries grew by 4.4%, Spanish recoveries by 0.2%, and Finnish recoveries by 1.2%.
Cash recoveries
The amount of cash recovered this month surpassed the €1 million mark, coming in at €1,020,102. This represents a 15.3% increase from July and puts the average missed payment recovery at €13.74 compared to €12.20 the month before. This was led mainly by Bailiff collections, which were 19.7% higher, and Rare case recoveries, where 62.1% more cash was recovered. Interestingly, there was a negligible amount of cash recovered from the In-house collection stage.
Yearly recovery rate
In another trend reversal, the cumulative yearly recovery rate rose to 42.5% from 42.2% in July. This was led by growth in recoveries from the past three years, with 2021 growing by 0.5% to 53.6%. In fact, of the eight years of recoveries recorded, six of those years had higher returns in August. This type of steady growth across the board is a welcome sign for Bondora investors.
Recoveries by country
Recoveries for missed Finnish loan payments were strong over the past several years. This was most impressive as missed payment recoveries for Finnish originations grew for every year across the board:
- 2021: +1.6%
- 2020: +2.1%
- 2019: +0.6%
- 2018: +0.4%
- 2017: +0.4%
- 2016: +0.6%
- 2015: +0.4%
- 2014: +0.4%
While recoveries from Spanish missed payments from 2021 fell by a relatively large margin, it still came in at an impressive 84.0%, still the highest recovery rate over the past eight years.
Growth across the board
The end of summer brought with it substantial numbers from Bondora recoveries. The number of recovered missed loan payments grew by 2.4%, while the amount of cash recovered grew an even more impressive 15.3%. The Bondora team did a phenomenal job recovering missed payments for Finnish originations, whose recovery rate increased for all missed payments dating back to 2014.
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.
