August was a benchmark month for Estateguru, with a record-breaking €15,0M successfully repaid by borrowers. We also saw €10,0M in loans funded across all of our markets.
The funded loan statistics for August:
Total Funded Loans (All Countries): €10,0M including:
Estonia: €6,3M
Latvia: €1,0M
Lithuania: €1,6M
Finland: €1,1M
Portugal: €0,1M
In August, a total of 148 loans, amounting to a record-breaking €15,0M, were successfully repaid by borrowers. These loans generated a return of 8,9%, marking a new high in 2023 and showcasing the resilience of our borrowers even during tightening macroeconomic conditions.
Recovery efforts are continuing at full pace. There have been no substantial increases in defaults, indicating the stability of our loan portfolio. Workouts for several larger cases, each involving €3M, are in their final stages. In August, we successfully recovered €1.1M in principal. We have increased recoveries through the sale of claims, taking advantage of an active market for non-performing loans (NPLs) in all countries.
We will keep you informed about the credit portfolio quality monthly.
