In March our investors financed €21,5M worth of loans which is a new record on our platform.
The repayment amount in March was €9,1M (a total of 92 loans with an average return of 11,0%). This was over two times lower than the sales volume, and consequently our investors’ outstanding loan portfolio reached a new height of €140M.
We are waiting for the repayment of two defaulted loans in Estonia (total of €0,3M) where successful auctions have been concluded. In Latvia, we have received partial repayments on several loans and are waiting for the last instalments, expected in the next two months, to fully recover the loans. In Finland, we are conducting negotiations with potential investors who are interested in buying the claims of our two defaulted loans. The default rate increased by 0,7 percentage points, mainly due to two Latvian borrowers, and is currently at 8,4%.
We will keep you informed about the credit portfolio quality on a monthly basis.