Bondora recoveries continue to grow for the fourth consecutive month in May. 57,860 missed payments were recovered over the month, up by 0.7% compared to April.
After showing tremendous growth in April, with 23.6%, in-house collections was the only category to show a decrease in numbers. All other categories saw an increase, with rare cases showing the most growth, up by 5.2%. This month, Spain and Estonia traded places, with Spain taking the lead in an increase in recoveries with 2.6%.
Cash recoveries on the rise
In May, cash recoveries had a gradual climb up to €525,727 after dropping to €508,874 in April. This increase is mostly thanks to recovering missed payments in the Default & Court stage, which showed a 9.6% increase on the month. Although Slovakia had the biggest percentile increase (143.1%) it is Spain (€23,660) and Estonia (€5,906) that brought in the highest yields in cash flow.
Yearly recovery rate
After falling by more than 14% in April, May shows the yearly recovery rate for 2020 making a comeback by rising to 47.7%—increasing by 4.6%. In contrast, recoveries for 2019 dipped slightly with 1.3%, although they’re still sitting at a rate of 53.48%—higher than recent years’ rates. The seven-year cumulative recovery rate showed its first increase since February, rising to 42.4%.
Estonian and Spanish recovery rates surge
After April’s drop in 2020 rates for Estonian and Spanish recoveries, May shows them exceeding and improving March levels, respectively. 2020 Estonian recovery rates increased by 8.2% to 25.2%—the highest of the year so far. Spanish recovery rates, on the other hand, showed a positive increase of 11.9%—a welcome sight after the 62,5% drop last month. Meanwhile, the Finish recovery rate for 2019 saw an increase of 2.6%.
2020 recoveries are showing strength
Bondora continues to recover more missed payments and cash. Estonian recovery rates remain the most stable among the various countries, with Spain showing the highest cash value in recoveries, as well as the highest growth rate. Despite slight decreases on previous years’ recovery rates, the 2020 and overall 2014-2020 rates remain positive.
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.
