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.
