February continued the momentum that 2023 started with. Loan originations increased by a solid 12.2%, totaling €19,228,733. This is the highest origination figure we’ve seen since 2019! And investments topped the charts too, with a 2023 high of €20,660,543 invested on Bondora last month. Dig in for more of the standout stats from February:
1,071 new investors joined Bondora. In the same month, investors earned over €17M in returns, and their total investment amount increased to €749M!
Loan Originations
Continuing on the path of growth, loan originations skyrocketed by 12.2% in February. This totals €19,228,733 across all markets. This is the highest origination amount we’ve seen in years. Once again, most originations came from Finland, with €13,912,625. This is thanks to its mammoth increase of 22.4%
The Estonian market also follows January’s trends, declining by 7.9% to €4,197,694. Contrary to January, Spain decreased its total loan originations by 20.8% to €922,878. And the Netherlands market continues to grow, with €195,536 originated.
Finnish loans continue to have the overwhelming majority, with a 72.4% share. Estonia follows with 21.%, Spain with 4.8%, and the Dutch market with 0.7%.
The average interest rate remained almost the same, declining by just 0.3% to 19.5%.
Secondary Market
In contrast to January, activity on the Secondary Market decreased. It went down by 19.5% to €129,666 worth of transactions.
All the categories decreased except Portfolio Manager, which grew by 8.0% to €5,025. The API declined by 21,3.3%, and Manual transactions by 8.5%. Despite the decrease, Manual transactions still have the most significant share (60.9%), reaching €78,956 worth of transactions.
Collection and Recovery
Overall cash recovery figures performed slightly below the figures of January. A total of €929,268 was recovered to a total of 82,639 loans. This is a 6.2% and 3.4% decline, respectively.
As we’ve seen in the past, most cash and loans were recovered from Estonia, with €463,920 cash and 38,074 loans recovered. In Finland, cash recoveries rose again. This month by 6.3% to €415,190. Contrasting January’s decline, Spain’s cash recovery figures increased by 13.4%, totaling €50,128. No recoveries are made in the Netherlands, as it’s a brand-new market.
The 2014-2023 recovery rate declined slightly from 60.8% in January to 57% in February. 2023’s recovery rate currently sits at 108.4%. As the year progresses, the recovery rate will likely decline and stabilize.
Investment product funding
Overall, we saw a huge uptick in investments, 20.9%. This totaled €20,660,543 in investments. For the first month in what seems like ages, we see a variance in the shares of the different investment products. Go & Grow’s share decreased to 90.3% and Portfolio Pro increased its share to 8.2%.
This change, and the mammoth increase, are mostly due to the changes we’ve made to Portfolio Manager and Portfolio Pro investments. Investors migrated their portfolios to Go & Grow, which majorly affected this month’s figures.
Go & Grow received 18,652,183. Portfolio Pro received an unprecedented €1,694,883. Portfolio Manager followed with €302,822, and the API with €10,655. All products, except Portfolio Manager, increased their investment totals.
Go & Grow + 12.6%
Portfolio Manager — 3.3%
Portfolio Pro + 700.5%
API + 463.5%
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