During the first month of 2023, the platform saw €9,6M worth of funded projects. Estonia and Lithuania each accounted for 1/3 of the total volume, followed by Latvia and Finland. As we have stated, no new projects are being introduced in Germany for the time being, while we put all our focus on recoveries.
Repayments were at €7,8M. We feel we have achieved stability during the past few months. The average return was 8,0%, with a total of 46 loans (including stage loans) repaid.
During January-February we fully recovered two long-term default projects in Estonia (one commercial premise in Pärnu [€0,7M] and a boutique hotel in Tallinn [€2,0M]). In regards to selling loan claims in Germany and Estonia, we are expanding our network of partners every day.
We will keep you informed about the credit portfolio quality monthly.