Loans continue to grow in Estonia. This time the number rose 109% from October to € 6,507594. Unlike in previous months, Estonia was not the only country where loans were granted. After careful examination, we decided to reopen the Finnish market.
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In Finland, for the first time since March, a small number of loans were granted for a total of € 23,547. The total value of the awards in November was € 6,531,141. The overall return fell again, this time to 26.7%.
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Estonian B-rated loans
The biggest difference between this month and the previous one was B-rated loans in Estonia. B-rated loans totaled € 256,833 in October, compared to € 2,731,268 this month, a huge 963.4% increase. C-rated Estonian loans also rose 59.9% to € 1,659,871. In addition, F-rated loans of € 88,866 were granted in Estonia after no loans in this category at all last month.
Among the Finnish loans, € 23,547 was accounted for by C-rated loans with a return of 18.7%. This is a successful start considering that no Finnish loans have been issued in nine months.
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Loan amounts and terms
After rising 2.7% in October, the average loan amount in Estonia rose again in November. That month, the average loan amount in Estonia was € 2,983, an increase of 26.6%.
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For the second consecutive month, Estonian loans have a maturity of 56 months. The average maturity of Finnish loans was 47 months, one month less than the last March.
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In November, a total of 1,682 loans with a maturity of 60 months were granted in Estonia, which corresponds to 77.1% of all loans. This is slightly higher compared to the 74.9% in the previous month for the same category. At the same time, half of all Finnish loans had a maturity of 60 months and the remainder had a maturity of nine months or less.
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Average age
The average age of Estonian borrowers decreased somewhat (37 years). New borrowers in Finland were, on average, 49 years older than when they were last granted loans in March. The average age at the time was 47 years. The median income of Finnish borrowers was € 3,309, up 30% on March.
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income
For the second month in a row, the average income of Estonian borrowers has grown. This time it was € 2,260, an increase of 37.1% over the previous month.
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training
Similar to previous months, most of the Estonian borrowers (897) had a university degree, which is 41.1% of all borrowers that month. This was followed by borrowers with vocational training (548) and borrowers with secondary and secondary school leaving certificates (408).
All seven Finnish borrowers in November have a vocational college degree.
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Duration of employment
There were also no changes in tenure in November. 30.7% of all borrowers have been with the company for more than five years, while 37% have been with the company for up to five years. This means that 67.7% of borrowers in November are long-term employees even in economically difficult times.
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Residential status
This month, the proportion of Estonian borrowers (42%) owning their own homes was lower than in the previous month (44%). The same is true for borrowers who pay rent (17.7% of all borrowers). On the other hand, the number of borrowers still living with their parents rose to a total of 375 (17.2%). There were almost as many borrowers on a mortgage as there were last month (6.7%).
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Verification status
In October, 91% of all Estonian borrowers were verified, compared to 98.3% or 2,143 total borrowers in November. In addition, all Finnish borrowers were verified by Bondora in November.
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More loans are being granted again
The number of lending is again similar to what it was before the pandemic. For the first time since March, loans were granted outside Estonia, albeit to a limited extent in Finland. Bondora has weathered the economic storm well this year and has given its clients a sufficient number of loans.
Find out more about the different investment options that Bondora can offer you here.
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