As we predicted, the total funded amount in March was similar to February. Our investors financed €16,7M worth of loans and, despite macroeconomic changes, investor and borrower behavior remains stable. During March, Estonia and Germany again performed well, each contributing 30% of the total loan volume.
Loan repayments amounted to half of those in February (€5,4M, 19 loans). The degree of volatility is reflective of seasonality and not payment problems, and we expect repayments to improve in the second quarter.
The default rate decreased to 5,0% and is now in line with the long-term target rate we set internally. This was primarily due to strong debt management in Estonia, where one project’s full principal amount was recovered (€0,9M). The rest (interest, penalties etc) will be received by our investors following the successful conclusion of ongoing legal disputes.
|As of 12.04.2022|
|Total financed loans since 2014||€550,8M|
|Total repaid loans since 2014||€304,9M|
|Total outstanding portfolio||€245,8M|
|Total outstanding defaulted loans||€12,4M|
|Total number of outstanding defaulted loans||48|
|Default rate (outstanding loans)||5,0%|
|Partially recovered loans rate (outstanding loans)||1,6%|
|Default rate (total financed loans)||2,3%|
|Total amount of recovered loans (including partially)||€17,0M|
|Total number of fully recovered loans||98|
|Average return rate of fully recovered loans||9,5%|
|Average time from default to recovery||8,9 months|
|Write-off rate (total financed loans)||0,007%|
We will keep you informed about the credit portfolio quality monthly.