In February we continued to apply our proactive business model, and consequently the financed loan amount was once again over €10M, which has been our new standard since August 2020. Both Finland and Estonia contributed strongly with 1/3 of the total volume each in February.


Repayments remained stable and our borrowers are still resilient to the current health and economic crisis. In February, borrowers repaid 59 loans (€8,1M) with an average return of 10,5%.




During the second half of February only one small recovery occurred in Estonia (€0,05M). The default rate increased 1,7 percentage points due to a number of problematic Finnish loans and is currently at 7,7%. We are working closely with our Finnish legal and debt collection partners to recover these loans. As we are over-secured, we do not forecast any capital loss, but see that, due to local legislation, the recovery process will take time.




We will keep you informed about the credit portfolio quality on a monthly basis.