Bondora hails 10 quarters on target
European peer-to-peer lending platform Bondora has reported that 10 consecutive quarters of loan cohorts have either met or exceeded its target rates of return.
In a second-quarter update, the firm published data for originations during the second quarter of 2022 for the first time. It reported an actual rate of 13.3 per cent compared to a target rate of 11.2 per cent.
It added that the cohort from the first quarter of 2022 continues to grow, increasing from 15.4 per cent to 15.9 per cent.
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Bondora also revealed that the annual portfolio performance for 2022 ticked down by 0.2 per cent to 14.4 per cent in May – the first month that the 2022 actual rate decreased. However, this is still 5.2 per cent higher than the 9.2 per cent target rate.
All three of the firm’s markets, Spain, Estonia and Finland, decreased for the first time in 2022 but remained firmly ahead of their targets. Spain exceeded its target by 2.7 per cent, Estonia by 4.2 per cent, and Finland by 5.9 per cent.
“Overall, it looks positive, with stability and growth for most markets,” Bondora said in a blog post on its website. “Although the yearly return rate decreased slightly, it is still far performing well ahead of its target rates. The last 10 quarters are all outperforming their target rates.”
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2020 and 2021 originations continue to decline in June, by 0.3 per cent and 0.2 per cent respectively, although both years are still comfortably beating the target rates at 14.8 per cent actual returns.
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“All three markets are performing well, despite slight underperforming categories coming from Estonia’s most recent quarter,” Bondora said.
“Spain and Finland are both exceeding most of their recent targets. The last 10 quarters are all outperforming their target rates, and they indicate consistency across our markets. And although the yearly return rate decreased slightly, it is still far performing well ahead of its target rates.”