November 2023: €10M+ Loans Originated in Finland

November showed signs of slightly less activity for loan originations. Finland remains the most robust loan market, with over €10M in loan originations in November alone. Due to strategic risk policy changes, the Spanish market is also temporarily closed to existing customers. Cash recoveries increased by 3.3%, totaling €1.7M. Here are more November stats:

November 2023: €10M+ Loans Originated in Finland.

In November, investors earned over €2M in returns, and the total product investment amount increased to €899M!

Loan Originations

Loan originations declined by 8.8% in November, undoing the increase of the month prior. This totaled €14,312,404, compared to €15,696,033 in October.  

Despite the decline, Estonia showed strong growth, increasing by 11.1% to a total of €2,497,805.

The Finnish market’s loan originations dipped by 10.3%, totaling €10,889,935. Despite the decline, the significant amount is still a testament to how many Finnish customers choose Bondora as their trusted loan partner.

In The Netherlands, a total of €924,664 in loans originated, a 26.7% decline from October.

As mentioned last month, in mid-October, we also closed loan originations to existing customers in the Spanish market. It remains a temporary measure, and we will continue further research and analysis. We do this to ensure the best possible quality for our loan portfolio, which means a better investment experience for you. Thus, there were no loan originations made in Spain in November.

Finnish loans have the majority share, with a dominant 76.1% share. Estonia increased its hold on the second-largest share, with 17.5%. The Netherlands follows in third place with 6.5%. Spain, naturally, had 0.0% in November.

The average loan interest rate grew from 19.0% to 19.3%.

Loan risk ratings and split per country

Below, you can view the different loan risk ratings and their percentage split across countries of the general loan portfolio. You can easily compare the changes between October and November:

Origination shares by rating/country – November 2023
Origination shares by rating/country – October 2023

For more in-depth statistics, you’re welcome to view them on our general statistics page for daily updated figures.

Investment product funding

After increasing in October, investment product funding decreased slightly by 8.8%. This brought the total funding into investment products to €14,312,404.

€14,263,030 was funded to Go & Grow and €49,344 was invested using the API. That’s an 8.9% decrease rate for Go & Grow and a 12.7% increase for API investments. Below, you can see the investment funding percentage split for November.

Investment shares across Bondora products in November 2023.
Investment shares across Bondora products in November 2023.

Secondary Market

Surprisingly, November didn’t follow the up-down trend that’s been the norm since May. After increasing in October, the total value of transactions increased again in November. Transactions totaled €149,180, growing a whopping 40.8% from October.

This is the highest transaction amount since January 2023. This growth was mainly influenced by the increase in manual transactions, which grew 61.9% and totaled €113,101. The API remained virtually the same, decreasing by 0.1%, totaling €36,079.

At a 75.8% share, manual transactions continue to have the most significant share. The API has a 24.2% share.

Secondary Market total transactions – November 2023
Secondary Market total transactions – November 2023

Collection and Recovery

In November, we recovered €1,734,386 across our loan markets. This is a 3.3% increase from October.

Once again, Estonia was the market with the highest cash collection, with €923,553 recovered. In Spain, we recovered €93,222. Finnish cash recoveries totaled €712,419. In the Dutch market, we recovered €5,192. These are the only two markets where our recoveries increased from October.

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P.S. Check out the recap of Bondora and our investors’ biggest moments of 2023!

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