In January, Bondora closed in on the 50,000 mark for recovered payments. In total, 49,069 missed payments were recovered, a 4.04% increase from December. Recoveries were higher almost across the board, with Spanish recoveries performing well on the month, climbing 5.61% to 12,110.
Cash Recoveries Increase Even Further
There was a 9.25% increase in cash recovered on the month, totaling €535,720, putting the average payment recovery at €10.92. Most notable was default and court recoveries, which grew 12.70% to €171,087.
Recovery rate for 2020 comes in strong
The initial reporting of the 2020 recovery rate came in very strong at 79.63%. As always, expect this number to normalize lower over time as missed payments increase. Accounting for the 2020 rate, the cumulative recovery rate from 2014-2020 was 47.96%, a significant jump from the 43.81% cumulative rate one month ago.
Spanish recoveries perform well
Leading the charge on the 2020 recovery rate was Spanish recoveries, which came in at 161.69%. Spanish recoveries also were higher for 2019 recoveries, with an 84.04% recovery rate in January compared to a 77.75% rate in December. Meanwhile, Estonian and Finnish recovery rates for 2019 remained consistent, changing less than 1% compared to last month.
Higher recoveries led by Spain
As Bondora closes in on new record-high recoveries, it is Spanish recoveries leading the charge. Both cash and total recoveries were higher on the month, leading to a strong starting 2020 recovery rate as a whole.
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.
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