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Bondora originations dropped in August

Bondora saw a slight decline in production in August after seven consecutive months of gains.

The European peer-to-peer lending platform saw its origins drop two percent in August to around €11.58 million (£9.92 million), from €11.8 million in July.

Production from Estonia decreased by 3.8 percent, while production in Finland increased by 1.2 percent. This brought the total share of Finnish originations on Bondora from 35.6 percent in July to 36.6 percent last month.

In addition, cumulative interest on all Bondora products rose 0.2 percent to 21.9 percent.

Again, Finland only provided D-rated loans, while in Estonia the origination shifted slightly towards medium-rated categories.

In August, the average Estonian origination amount continued to fall for the fourth consecutive month, by 7.4 percent to an average of €2,507, while the average Finnish loan amount was also €2,507, representing a monthly decline of 1.6 percent.

Read more: Bondora Boosts Loan Recoveries

“Bondora origins had an excellent run for seven consecutive months,” Bondora said in a blog post on her website.

“And while this growth streak came to an end in August, productions held up, falling just two percent to $11,584,049.

“Interest rates rose 0.2 percent across the platform, and there was a strong spread of Estonian originations across rating categories.”

In August, Bondora saw 107.9 percent month-over-month growth in its secondary market transactions and an increase in loan repayments and amount of cash reclaimed compared to the previous month.

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