Our sales volume increased by an incredible 50% in October when compared to September, making this the all-time record month with €15,2M in new loans issued through our platform. The most active market was Lithuania, where our investors financed €7,9M worth of loans featuring collaterals in prime locations.
Repayments in October remained healthy, with over €9,8M of principal returned to investors. To be specific, our borrowers paid back 73 loans and the average return of these repaid loans was 10,7%.
Key changes in the debt collection procedures and setup which our credit team made in spring have resulted in stable recoveries during the past few months and we expect this trend to continue in the future. In October we recovered three loans in the amount of €0,3M in Estonia and Latvia. The first defaults in Finland have increased the defaulted loans amount to €7,9M.
We will keep you informed about the credit portfolio quality on a monthly basis.