Figure 1 Performance of Note price and Long-Term Return Target
In January, interest received was in line with expectations and the overall result was a return of 0.47% for the month.
Since inception, Quantrom P2P Lending has given a return of 26.21% and outperformed the long-term return target by 5.50%-points.
Current loans were at the end of January 71.3% of the value of the portfolio, an increase of almost 2%-points. It is the known seasonal pattern, where borrower resume their payments after the holiday period, that comes into effect. Loans late more than 60 days has decreased to 3.2% of the value of the portfolio in January.
Regarding the loan originator on Mintos that is late on its payment we have not received any news or payments and therefore we will continue our cautious approach. We have therefore taken an additional provision of 0.15% in January.
The portfolio at the end of January 2020 consisted of almost 7,300 loans. The weighted average interest rate on the portfolio has fallen to 10.78% with an average weighted maturity of 29 months.
The main exposure in value is still towards Car Loans with 56% of the value of the portfolio at the end of the month.
Exposure towards property loans is at 26% of the value of the portfolio. At the end of January, personal loans represented 16%, while business loans were at 2% of the value of the portfolio.
Figures 2-12 provide more details on the composition of the loan portfolio.
Quantrom Limited, Limerick