For the third month in a row the amount of recoveries rose on Bondora. A total of 38,187 in payment recoveries during August equates to a 4.6% increase from July. Collections made in-house by Bondora rose by 8.6% to 8,721, while all other recovery categories also rose slightly. Finland saw the biggest gains in recoveries, up to a total of 12,279 payment recoveries from 11,600 one month ago.
Cash Recoveries Slightly Fall
While more payments were recovered in August, less total cash was recovered from missed payments. A total of €464,433 was recovered on the month, a decrease of 4.2%. This brought the average payment recovery down from €13.05 in July to €12.16 in August. Cash recoveries fell in all countries, except Finland, where there was an increase of 41.8% in total cash recovered. This brought the average payment recovery in Finland all the way up to €17.71.
Yearly Recovery Rate
As expected, the yearly recovery rate is falling closer in-line with the yearly rate for the previous 5 years. The recovery rate for 2019 currently sits at 68.34%. As a result, the 5 year recovery rate fell to 46.27% from 47.69% last month.
Recoveries by Country
Recovery rates in each Bondora country fell from their extreme highs to start the year. The recovery rate in Spain (91.13%) continues to be the highest of all Bondora countries, with Finland (82.76%) and Estonia (54.08%) following.
Conclusion
Even as less payments were recovered in August, more money was recovered in Finland, where the average payment recovery was a full €5 higher than the average across Bondora.
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.
