{"id":27403,"date":"2025-04-26T09:00:21","date_gmt":"2025-04-26T07:00:21","guid":{"rendered":"https:\/\/rethink-p2p.de\/?p=27403"},"modified":"2025-12-03T07:03:12","modified_gmt":"2025-12-03T06:03:12","slug":"bondora-annual-report-2024","status":"publish","type":"post","link":"https:\/\/rethink-p2p.de\/en\/bondora-annual-report-2024\/","title":{"rendered":"9 Takeaways from Bondora&#8217;s 2024 Annual Report"},"content":{"rendered":"<p class=\"\" data-start=\"139\" data-end=\"459\">Bondora, one of the leading Estonian fintech platforms, has just unveiled its financial results for 2024. And there\u2019s a lot to unpack. With ambitious moves toward becoming a fully regulated banking entity, changes in leadership, and impressive growth metrics, this year\u2019s report offers valuable insights for investors.<\/p>\n<p class=\"\" data-start=\"461\" data-end=\"804\">In this article, I am breaking down the nine most important takeaways from the report, highlighting everything from their strategic direction to portfolio performance.<\/p>\n<p class=\"\" data-start=\"461\" data-end=\"804\">Whether you are a seasoned <a href=\"https:\/\/rethink-p2p.de\/en\/bondora-review\/\" target=\"_blank\" rel=\"noopener\"><strong>Bondora<\/strong><\/a> investor or just getting started with <a href=\"https:\/\/rethink-p2p.de\/en\/bondora-go-and-grow-review\/\" target=\"_blank\" rel=\"noopener\"><strong>Go &amp; Grow<\/strong><\/a>, this deep dive will give you the information you need to make a better-informed investment decision.<\/p>\n<p class=\"\" data-start=\"806\" data-end=\"862\">Ready to explore what\u2019s new with Bondora? Let\u2019s dive in!<\/p>\n<p><iframe loading=\"lazy\" title=\"9 Takeaways from Bondora\u2019s 2024 Annual Report\" width=\"810\" height=\"456\" data-src=\"https:\/\/www.youtube.com\/embed\/Xoneuj9DhJY?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\" data-load-mode=\"1\"><\/iframe><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_67_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/rethink-p2p.de\/en\/bondora-annual-report-2024\/#Changes_to_the_Supervisory_Board_for_Banking_License_Requirements\" title=\"Changes to the Supervisory Board for Banking License Requirements\">Changes to the Supervisory Board for Banking License Requirements<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/rethink-p2p.de\/en\/bondora-annual-report-2024\/#Bondora_Manages_EUR_600_Million_Second-Largest_P2P_Platform_After_Mintos\" title=\"Bondora Manages EUR 600 Million; Second-Largest P2P Platform After Mintos\">Bondora Manages EUR 600 Million; Second-Largest P2P Platform After Mintos<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/rethink-p2p.de\/en\/bondora-annual-report-2024\/#Bondora_Surpasses_One_Billion_Euros_in_Funded_Loans\" title=\"Bondora Surpasses One Billion Euros in Funded Loans\">Bondora Surpasses One Billion Euros in Funded Loans<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/rethink-p2p.de\/en\/bondora-annual-report-2024\/#20_Revenue_Growth_Income_Sources_Remain_Unchanged\" title=\"20% Revenue Growth; Income Sources Remain Unchanged\">20% Revenue Growth; Income Sources Remain Unchanged<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/rethink-p2p.de\/en\/bondora-annual-report-2024\/#Eight_Consecutive_Years_of_Profitability\" title=\"Eight Consecutive Years of Profitability\">Eight Consecutive Years of Profitability<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/rethink-p2p.de\/en\/bondora-annual-report-2024\/#156_Increase_in_Doubtful_Receivables_Poor_Portfolio_Quality_to_Blame\" title=\"156% Increase in Doubtful Receivables; Poor Portfolio Quality to Blame?\">156% Increase in Doubtful Receivables; Poor Portfolio Quality to Blame?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/rethink-p2p.de\/en\/bondora-annual-report-2024\/#Strong_Balance_Sheet_Focus_on_Intangible_Assets\" title=\"Strong Balance Sheet; Focus on Intangible Assets\">Strong Balance Sheet; Focus on Intangible Assets<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/rethink-p2p.de\/en\/bondora-annual-report-2024\/#Bondora_Buys_Back_Shares_Worth_EUR_12_Million\" title=\"Bondora Buys Back Shares Worth EUR 1.2 Million\">Bondora Buys Back Shares Worth EUR 1.2 Million<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/rethink-p2p.de\/en\/bondora-annual-report-2024\/#Bondora_Invests_EUR_50000_in_Company_Founded_by_Former_Employees\" title=\"Bondora Invests EUR 50,000 in Company Founded by Former Employees\">Bondora Invests EUR 50,000 in Company Founded by Former Employees<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/rethink-p2p.de\/en\/bondora-annual-report-2024\/#Conclusion_Bondora_Annual_Report_2024\" title=\"Conclusion: Bondora Annual Report 2024\">Conclusion: Bondora Annual Report 2024<\/a><\/li><\/ul><\/nav><\/div>\n<h2 data-start=\"0\" data-end=\"65\"><span class=\"ez-toc-section\" id=\"Changes_to_the_Supervisory_Board_for_Banking_License_Requirements\"><\/span>Changes to the Supervisory Board for Banking License Requirements<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"\" data-start=\"67\" data-end=\"312\">In August 2024, two new members &#8211;\u00a0<a href=\"https:\/\/www.linkedin.com\/in\/groeneveldrichard\/\"><strong>Richard Groeneveld<\/strong><\/a> and <a href=\"https:\/\/www.linkedin.com\/in\/raimondas-berniunas-142084142\"><strong>Raimondas Berniunas<\/strong><\/a> &#8211; joined Bondora\u2019s now five-member Supervisory Board. Bondora justified this step by citing the addition of expertise in risk management, banking, and technology companies.<\/p>\n<blockquote><p>&#8220;To further strengthen our governance, we restructured the Supervisory Board in 2024, bringing in a majority of independent directors with deep expertise in risk management, banking, and technology scale-ups.&#8221;<\/p><\/blockquote>\n<p class=\"\" data-start=\"527\" data-end=\"774\">In response to my inquiry, Bondora confirmed that the restructuring of the Supervisory Board was also done in preparation for the upcoming application for a banking license, which requires meeting certain criteria set by the European Central Bank.<\/p>\n<p class=\"\" data-start=\"776\" data-end=\"994\">This includes, for one, that the majority of board members must be \u201cindependent\u201d from the company, and that members must have extensive leadership experience in the banking sector.<\/p>\n<blockquote><p>&#8220;The goal was to shape the board in accordance with the licensing process&#8217;s requirements and the company&#8217;s strategic goals [\u2026] All supervisory board members must meet the criteria set by the European Central Bank (ECB).&#8221;<\/p><\/blockquote>\n<p class=\"\" data-start=\"1220\" data-end=\"1503\">Investors have known for some years that Bondora is strategically steering toward becoming a banking institution.<\/p>\n<p><iframe loading=\"lazy\" title=\"BONDORA Podcast \u274c Go &amp; Grow Transparency \u274c Performance Issues Loan Book \u274c Banking License\" width=\"810\" height=\"456\" data-src=\"https:\/\/www.youtube.com\/embed\/4f_goq4uedk?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\" data-load-mode=\"1\"><\/iframe><\/p>\n<p class=\"\" data-start=\"1220\" data-end=\"1503\">According to Bondora, this step will help provide more stability and build greater trust. It will also facilitate expansion and the launch of new products across Europe.<\/p>\n<blockquote><p>&#8220;For Bondora Group, a banking license will add another layer of trust and stability for all our customers. It will also make it easier for us to expand into new EU markets as a credit provider and introduce new products.&#8221;<\/p><\/blockquote>\n<article class=\"text-token-text-primary w-full\" dir=\"auto\" data-testid=\"conversation-turn-8\" data-scroll-anchor=\"true\">\n<div class=\"text-base my-auto mx-auto py-5 [--thread-content-margin:--spacing(4)] @[37rem]:[--thread-content-margin:--spacing(6)] @[70rem]:[--thread-content-margin:--spacing(12)] px-(--thread-content-margin)\">\n<div class=\"[--thread-content-max-width:32rem] @[34rem]:[--thread-content-max-width:40rem] @[64rem]:[--thread-content-max-width:48rem] mx-auto flex max-w-(--thread-content-max-width) flex-1 text-base gap-4 md:gap-5 lg:gap-6 group\/turn-messages focus-visible:outline-hidden\" tabindex=\"-1\">\n<div class=\"group\/conversation-turn relative flex w-full min-w-0 flex-col agent-turn\">\n<div class=\"relative flex-col gap-1 md:gap-3\">\n<div class=\"flex max-w-full flex-col grow\">\n<div class=\"min-h-8 text-message relative flex w-full flex-col items-end gap-2 text-start break-words whitespace-normal [.text-message+&amp;]:mt-5\" dir=\"auto\" data-message-author-role=\"assistant\" data-message-id=\"519dfa6a-bd10-4840-ac48-74eeaa713b08\" data-message-model-slug=\"gpt-4o\">\n<div class=\"flex w-full flex-col gap-1 empty:hidden first:pt-[3px]\">\n<div class=\"markdown prose dark:prose-invert w-full break-words light\">\n<p class=\"\" data-start=\"1730\" data-end=\"1859\">Bondora did not want to communicate a specific timeline. They only stated that the process is progressing at an &#8220;expected speed.&#8221;<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<hr \/>\n<h2 data-start=\"0\" data-end=\"70\"><span class=\"ez-toc-section\" id=\"Bondora_Manages_EUR_600_Million_Second-Largest_P2P_Platform_After_Mintos\"><\/span>Bondora Manages EUR 600 Million; Second-Largest P2P Platform After Mintos<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"\" data-start=\"72\" data-end=\"268\">In the past, I\u2019ve often criticized Bondora for a certain lack of transparency. Primarily regarding the absence of data on assets under management and how the loan portfolio was actually performing.<\/p>\n<p><a href=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/03\/Bondora-Review-Transparency.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-15013 lazyload\" data-src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/03\/Bondora-Review-Transparency.png\" alt=\"\" width=\"900\" height=\"588\" data-srcset=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/03\/Bondora-Review-Transparency.png 900w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/03\/Bondora-Review-Transparency-300x196.png 300w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/03\/Bondora-Review-Transparency-768x502.png 768w\" data-sizes=\"(max-width: 900px) 100vw, 900px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 900px; --smush-placeholder-aspect-ratio: 900\/588;\" \/><noscript><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-15013\" src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/03\/Bondora-Review-Transparency.png\" alt=\"\" width=\"900\" height=\"588\" srcset=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/03\/Bondora-Review-Transparency.png 900w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/03\/Bondora-Review-Transparency-300x196.png 300w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2023\/03\/Bondora-Review-Transparency-768x502.png 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/noscript><\/a><\/p>\n<p class=\"\" data-start=\"270\" data-end=\"612\">Surprisingly, the 2024 annual report included such a reference point for the first time. And it\u2019s a notable one. According to Bondora, the outstanding loan portfolio now stands at EUR 600 million. For context: this would currently make Bondora the second-largest P2P platform in Europe, just behind <a href=\"https:\/\/rethink-p2p.de\/en\/mintos-review\/\" target=\"_blank\" rel=\"noopener\"><strong>Mintos<\/strong><\/a> with EUR 615 million in outstanding loans.<\/p>\n<p class=\"\" data-start=\"614\" data-end=\"881\">There was, however, some confusion around the figure for the investment balance, which was stated to be just EUR 567 million. This refers to the total amount of investor funds as of December 31, 2024 &#8211; including already invested amounts and idle balances on user accounts.<\/p>\n<p><a href=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Transparenz-AUM-Bondora-Review-Annual-Report-2024.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-27360 lazyload\" data-src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Transparenz-AUM-Bondora-Review-Annual-Report-2024.png\" alt=\"\" width=\"1000\" height=\"442\" data-srcset=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Transparenz-AUM-Bondora-Review-Annual-Report-2024.png 1000w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Transparenz-AUM-Bondora-Review-Annual-Report-2024-300x133.png 300w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Transparenz-AUM-Bondora-Review-Annual-Report-2024-768x339.png 768w\" data-sizes=\"(max-width: 1000px) 100vw, 1000px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1000px; --smush-placeholder-aspect-ratio: 1000\/442;\" \/><noscript><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-27360\" src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Transparenz-AUM-Bondora-Review-Annual-Report-2024.png\" alt=\"\" width=\"1000\" height=\"442\" srcset=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Transparenz-AUM-Bondora-Review-Annual-Report-2024.png 1000w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Transparenz-AUM-Bondora-Review-Annual-Report-2024-300x133.png 300w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Transparenz-AUM-Bondora-Review-Annual-Report-2024-768x339.png 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/noscript><\/a><\/p>\n<p class=\"\" data-start=\"883\" data-end=\"1104\">In response to my query, Bondora explained that this structure is intentional. Investor funds are backed by a larger loan portfolio, which &#8211; ultimately &#8211; helps explain the often-questioned risk buffer (currently EUR 33 million).<\/p>\n<blockquote><p>&#8220;The loan portfolio is intentionally higher than the investment balance to ensure sufficient risk buffers and diversification within the Go &amp; Grow product. This structure safeguards investor returns.&#8221;<\/p><\/blockquote>\n<hr \/>\n<h2 data-start=\"0\" data-end=\"51\"><span class=\"ez-toc-section\" id=\"Bondora_Surpasses_One_Billion_Euros_in_Funded_Loans\"><\/span>Bondora Surpasses One Billion Euros in Funded Loans<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"\" data-start=\"53\" data-end=\"171\">In 2024, Bondora crossed the milestone of EUR 1 billion in funded loans &#8211; 16 years after the P2P platform began operations.<\/p>\n<blockquote><p>&#8220;Investor confidence in Bondora reached new heights in 2024 with \u20ac1 billion invested through Bondora since our launch in 2008.&#8221;<\/p><\/blockquote>\n<article class=\"text-token-text-primary w-full\" dir=\"auto\" data-testid=\"conversation-turn-12\" data-scroll-anchor=\"true\">\n<div class=\"text-base my-auto mx-auto py-5 [--thread-content-margin:--spacing(4)] @[37rem]:[--thread-content-margin:--spacing(6)] @[70rem]:[--thread-content-margin:--spacing(12)] px-(--thread-content-margin)\">\n<div class=\"[--thread-content-max-width:32rem] @[34rem]:[--thread-content-max-width:40rem] @[64rem]:[--thread-content-max-width:48rem] mx-auto flex max-w-(--thread-content-max-width) flex-1 text-base gap-4 md:gap-5 lg:gap-6 group\/turn-messages focus-visible:outline-hidden\" tabindex=\"-1\">\n<div class=\"group\/conversation-turn relative flex w-full min-w-0 flex-col agent-turn\">\n<div class=\"relative flex-col gap-1 md:gap-3\">\n<div class=\"flex max-w-full flex-col grow\">\n<div class=\"min-h-8 text-message relative flex w-full flex-col items-end gap-2 text-start break-words whitespace-normal [.text-message+&amp;]:mt-5\" dir=\"auto\" data-message-author-role=\"assistant\" data-message-id=\"9bc4d654-e1f5-4561-beb4-c484e16a1b18\" data-message-model-slug=\"gpt-4o\">\n<div class=\"flex w-full flex-col gap-1 empty:hidden first:pt-[3px]\">\n<div class=\"markdown prose dark:prose-invert w-full break-words light\">\n<p class=\"\" data-start=\"304\" data-end=\"618\">The pace of this growth is also evident from the fact that more than one quarter of that total was added just in the past year. In 2024 alone, Bondora funded 147,000 loans worth EUR 262 million. That represents an increase of around 30% compared to the previous year, when 81,000 loans worth EUR 202 million were funded.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<p><a href=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Geschaftsbericht-2024-Bondora-Review-Annual-Report-2024-Funded-Loans.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-27364 lazyload\" data-src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Geschaftsbericht-2024-Bondora-Review-Annual-Report-2024-Funded-Loans.png\" alt=\"\" width=\"2000\" height=\"920\" data-srcset=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Geschaftsbericht-2024-Bondora-Review-Annual-Report-2024-Funded-Loans.png 2000w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Geschaftsbericht-2024-Bondora-Review-Annual-Report-2024-Funded-Loans-300x138.png 300w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Geschaftsbericht-2024-Bondora-Review-Annual-Report-2024-Funded-Loans-1024x471.png 1024w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Geschaftsbericht-2024-Bondora-Review-Annual-Report-2024-Funded-Loans-768x353.png 768w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Geschaftsbericht-2024-Bondora-Review-Annual-Report-2024-Funded-Loans-1536x707.png 1536w\" data-sizes=\"(max-width: 2000px) 100vw, 2000px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 2000px; --smush-placeholder-aspect-ratio: 2000\/920;\" \/><noscript><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-27364\" src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Geschaftsbericht-2024-Bondora-Review-Annual-Report-2024-Funded-Loans.png\" alt=\"\" width=\"2000\" height=\"920\" srcset=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Geschaftsbericht-2024-Bondora-Review-Annual-Report-2024-Funded-Loans.png 2000w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Geschaftsbericht-2024-Bondora-Review-Annual-Report-2024-Funded-Loans-300x138.png 300w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Geschaftsbericht-2024-Bondora-Review-Annual-Report-2024-Funded-Loans-1024x471.png 1024w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Geschaftsbericht-2024-Bondora-Review-Annual-Report-2024-Funded-Loans-768x353.png 768w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Geschaftsbericht-2024-Bondora-Review-Annual-Report-2024-Funded-Loans-1536x707.png 1536w\" sizes=\"(max-width: 2000px) 100vw, 2000px\" \/><\/noscript><\/a><\/p>\n<hr \/>\n<h2><span class=\"ez-toc-section\" id=\"20_Revenue_Growth_Income_Sources_Remain_Unchanged\"><\/span>20% Revenue Growth; Income Sources Remain Unchanged<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Last year, Bondora funded nearly EUR 60 million more in loans than the year before. As a result, revenue increased by almost 20%, reaching EUR 52.6 million.<\/p>\n<p>The proportional breakdown of revenue sources changed very little compared to the previous year. Management fees contributed EUR 26.8 million (51%; previous year: 52%), additional services (including BSecure) brought in EUR 15.1 million (29%; previous year: 30%), and EUR 9.5 million came from brokerage fees for loan origination (18%; previous year: 16%).<\/p>\n<p><a href=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Monetarisierung-Bondora-Review-Monetization-Bondora-Opiniones-Bondora-Avis-2025.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-26961 lazyload\" data-src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Monetarisierung-Bondora-Review-Monetization-Bondora-Opiniones-Bondora-Avis-2025.png\" alt=\"\" width=\"1000\" height=\"374\" data-srcset=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Monetarisierung-Bondora-Review-Monetization-Bondora-Opiniones-Bondora-Avis-2025.png 1000w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Monetarisierung-Bondora-Review-Monetization-Bondora-Opiniones-Bondora-Avis-2025-300x112.png 300w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Monetarisierung-Bondora-Review-Monetization-Bondora-Opiniones-Bondora-Avis-2025-768x287.png 768w\" data-sizes=\"(max-width: 1000px) 100vw, 1000px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1000px; --smush-placeholder-aspect-ratio: 1000\/374;\" \/><noscript><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-26961\" src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Monetarisierung-Bondora-Review-Monetization-Bondora-Opiniones-Bondora-Avis-2025.png\" alt=\"\" width=\"1000\" height=\"374\" srcset=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Monetarisierung-Bondora-Review-Monetization-Bondora-Opiniones-Bondora-Avis-2025.png 1000w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Monetarisierung-Bondora-Review-Monetization-Bondora-Opiniones-Bondora-Avis-2025-300x112.png 300w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Monetarisierung-Bondora-Review-Monetization-Bondora-Opiniones-Bondora-Avis-2025-768x287.png 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/noscript><\/a><\/p>\n<p>From a geographic perspective, the Finnish market saw the highest revenue growth, adding EUR 5.5 million. For the first time, the Scandinavian market as a whole surpassed Bondora\u2019s domestic Estonian market, generating nearly 48% of total revenue, compared to Estonia\u2019s EUR 21.8 million (41.4%). The Netherlands also saw significant growth, quadrupling to EUR 3.5 million in revenue, while Spain experienced a decline of EUR 800,000.<\/p>\n<hr \/>\n<h2><span class=\"ez-toc-section\" id=\"Eight_Consecutive_Years_of_Profitability\"><\/span>Eight Consecutive Years of Profitability<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>With a profit of EUR 1.2 million, Bondora has remained profitable for the eighth year in a row. A strong performance that few, if any, other P2P platforms in Europe can match.<\/p>\n<p><a href=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Profitabilitat-Bondora-Review-Profitability-Bondora-Opiniones-Rentabilidad-Bondora-Avis-2025.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-26965 lazyload\" data-src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Profitabilitat-Bondora-Review-Profitability-Bondora-Opiniones-Rentabilidad-Bondora-Avis-2025.png\" alt=\"\" width=\"2000\" height=\"924\" data-srcset=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Profitabilitat-Bondora-Review-Profitability-Bondora-Opiniones-Rentabilidad-Bondora-Avis-2025.png 2000w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Profitabilitat-Bondora-Review-Profitability-Bondora-Opiniones-Rentabilidad-Bondora-Avis-2025-300x139.png 300w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Profitabilitat-Bondora-Review-Profitability-Bondora-Opiniones-Rentabilidad-Bondora-Avis-2025-1024x473.png 1024w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Profitabilitat-Bondora-Review-Profitability-Bondora-Opiniones-Rentabilidad-Bondora-Avis-2025-768x355.png 768w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Profitabilitat-Bondora-Review-Profitability-Bondora-Opiniones-Rentabilidad-Bondora-Avis-2025-1536x710.png 1536w\" data-sizes=\"(max-width: 2000px) 100vw, 2000px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 2000px; --smush-placeholder-aspect-ratio: 2000\/924;\" \/><noscript><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-26965\" src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Profitabilitat-Bondora-Review-Profitability-Bondora-Opiniones-Rentabilidad-Bondora-Avis-2025.png\" alt=\"\" width=\"2000\" height=\"924\" srcset=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Profitabilitat-Bondora-Review-Profitability-Bondora-Opiniones-Rentabilidad-Bondora-Avis-2025.png 2000w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Profitabilitat-Bondora-Review-Profitability-Bondora-Opiniones-Rentabilidad-Bondora-Avis-2025-300x139.png 300w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Profitabilitat-Bondora-Review-Profitability-Bondora-Opiniones-Rentabilidad-Bondora-Avis-2025-1024x473.png 1024w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Profitabilitat-Bondora-Review-Profitability-Bondora-Opiniones-Rentabilidad-Bondora-Avis-2025-768x355.png 768w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Profitabilitat-Bondora-Review-Profitability-Bondora-Opiniones-Rentabilidad-Bondora-Avis-2025-1536x710.png 1536w\" sizes=\"(max-width: 2000px) 100vw, 2000px\" \/><\/noscript><\/a><\/p>\n<p>When asked about future profitability targets, Bondora stated that it would not be sharing these publicly. The company\u2019s goal is to secure a leading position in the industry, which it defines through both profitability and consistent growth. The aim is to strike a balance between sustainable profitability and steady, organic expansion.<\/p>\n<blockquote><p>&#8220;We do not publicly disclose our profitability targets. However, our strategy is to become an industry leader measured by both profitability and consistent growth. Rather than prioritizing one over the other, we aim to balance sustainable profitability with steady, organic expansion to drive long-term value.&#8221;<\/p><\/blockquote>\n<hr \/>\n<h2><span class=\"ez-toc-section\" id=\"156_Increase_in_Doubtful_Receivables_Poor_Portfolio_Quality_to_Blame\"><\/span>156% Increase in Doubtful Receivables; Poor Portfolio Quality to Blame?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>While Bondora has been profitable for eight consecutive years, the latest annual report requires a more critical interpretation. Especially considering that profit dropped by 64% compared to the previous year.<\/p>\n<p>A closer look at the income statement reveals that this decline is primarily due to a sharp increase in \u201cExpenses from doubtful receivables,\u201d which rose by EUR 8.8 million year-over-year\u00a0 a 156% jump.<\/p>\n<p>This is perhaps the most crucial part of the annual report. After all, this blog has repeatedly warned in the past about Bondora\u2019s lack of transparency and the potentially problematic state of its loan portfolio. But let\u2019s break it down:<\/p>\n<p>The term \u201cExpenses from doubtful receivables\u201d refers to receivables from borrowers where a default is likely. In other words, it reflects impairments on loan contracts where Bondora expects a partial or full loss.<\/p>\n<p>Such impairments can arise due to increased defaults, a more conservative assessment of credit risk, new regulatory requirements, or revised assumptions about repayment likelihood.<\/p>\n<p>From an investor\u2019s point of view, the sharp rise in doubtful receivables can be interpreted in several ways.<\/p>\n<p class=\"\" data-start=\"0\" data-end=\"274\"><strong>First:<\/strong> Growth in Loan Issuance. Bondora funded EUR 60 million (or 30%) more in loans. Naturally, a higher volume will also lead to a proportional increase in loans at risk of default. What\u2019s important, however, is that the ratio of defaults to the total portfolio remains stable.<\/p>\n<p class=\"\" data-start=\"276\" data-end=\"566\"><strong>Second:<\/strong> More Aggressive Risk Modeling. The significant increase in impairments could also point to stricter valuation approaches or tightened risk models. This would actually be a positive signal, suggesting that Bondora is proactively preparing for potentially tougher economic conditions.<\/p>\n<p class=\"\" data-start=\"568\" data-end=\"716\"><strong>Third:<\/strong> Deterioration in Loan Portfolio Quality. This issue has already been addressed several times on this blog and is relatively self-explanatory.<\/p>\n<article class=\"text-token-text-primary w-full\" dir=\"auto\" data-testid=\"conversation-turn-20\" data-scroll-anchor=\"true\">\n<div class=\"text-base my-auto mx-auto py-5 [--thread-content-margin:--spacing(4)] @[37rem]:[--thread-content-margin:--spacing(6)] @[70rem]:[--thread-content-margin:--spacing(12)] px-(--thread-content-margin)\">\n<div class=\"[--thread-content-max-width:32rem] @[34rem]:[--thread-content-max-width:40rem] @[64rem]:[--thread-content-max-width:48rem] mx-auto flex max-w-(--thread-content-max-width) flex-1 text-base gap-4 md:gap-5 lg:gap-6 group\/turn-messages focus-visible:outline-hidden\" tabindex=\"-1\">\n<div class=\"group\/conversation-turn relative flex w-full min-w-0 flex-col agent-turn\">\n<div class=\"relative flex-col gap-1 md:gap-3\">\n<div class=\"flex max-w-full flex-col grow\">\n<div class=\"min-h-8 text-message relative flex w-full flex-col items-end gap-2 text-start break-words whitespace-normal [.text-message+&amp;]:mt-5\" dir=\"auto\" data-message-author-role=\"assistant\" data-message-id=\"bd033dc6-e25e-4973-8c6f-b217d01acd75\" data-message-model-slug=\"gpt-4o\">\n<div class=\"flex w-full flex-col gap-1 empty:hidden first:pt-[3px]\">\n<div class=\"markdown prose dark:prose-invert w-full break-words light\">\n<p class=\"\" data-start=\"718\" data-end=\"1111\">According to Bondora, however, the increase in doubtful receivables is attributed to a one-off accounting adjustment. Specifically, it involved a retrospective recalibration of expected credit losses (ECL) on Bondora\u2019s own fee receivables &#8211; not investor loans. This measure was implemented as part of the preparations for the banking license and the transition to an enhanced IFRS 9-based model.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<blockquote><p>&#8220;The increase in doubtful receivables in 2024 is the result of a one-off accounting adjustment. Specifically, the change relates to Bondora\u2019s own fee receivables from borrowers, rather than the loan principal balances, which are held by investors. To align with IFRS 9 standards in preparation for our banking license application, we implemented an enhanced expected credit loss (ECL) model. This new model was applied retroactively across the historical receivables portfolio, leading to a higher one-time provision expense.&#8221;<\/p><\/blockquote>\n<p>Additionally, Bondora expressed strong confidence regarding more efficient debt recovery processes, especially in the Finnish market, where they have observed a 50% improvement in recovery rates over the past 12 months.<\/p>\n<blockquote><p>&#8220;Bondora\u2019s collection processes became significantly more effective in 2024, particularly in Finland, our largest market. This was evident in both incoming cash flows and the recovery rate on defaulted balances, which improved by more than 50% from the end of 2023 to December 2024 \u2014 a 1.5x increase in recovery efficiency.&#8221;<\/p><\/blockquote>\n<p>According to Bondora, the default rates have also decreased across all markets.<\/p>\n<blockquote><p>&#8220;The defaulted share has been gradually declining, reflecting steady and ongoing improvements in portfolio quality across markets.&#8221;<\/p><\/blockquote>\n<p>Conclusion: According to reports, there have been no signs of increased credit risks with investor loans. Nevertheless, this trend should serve as a reason to closely monitor the development of default rates and the recovery of funds from debt collection in the coming quarters.<\/p>\n<hr \/>\n<h2><span class=\"ez-toc-section\" id=\"Strong_Balance_Sheet_Focus_on_Intangible_Assets\"><\/span>Strong Balance Sheet; Focus on Intangible Assets<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As in previous years, Bondora has a very clean and presentable balance sheet. The equity ratio now stands at an impressive 71%, and the debt-to-equity ratio (0.40) has remained consistently low over the years. The liquidity ratio is also strong, with a factor of 3.45, which is very solid.<\/p>\n<p><a href=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Bilanz-Bondora-Review-Balance-Sheet-Bondora-Opiniones-Bilan-Bondora-Avis-2025.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-26969 lazyload\" data-src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Bilanz-Bondora-Review-Balance-Sheet-Bondora-Opiniones-Bilan-Bondora-Avis-2025.png\" alt=\"\" width=\"1180\" height=\"394\" data-srcset=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Bilanz-Bondora-Review-Balance-Sheet-Bondora-Opiniones-Bilan-Bondora-Avis-2025.png 1180w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Bilanz-Bondora-Review-Balance-Sheet-Bondora-Opiniones-Bilan-Bondora-Avis-2025-300x100.png 300w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Bilanz-Bondora-Review-Balance-Sheet-Bondora-Opiniones-Bilan-Bondora-Avis-2025-1024x342.png 1024w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Bilanz-Bondora-Review-Balance-Sheet-Bondora-Opiniones-Bilan-Bondora-Avis-2025-768x256.png 768w\" data-sizes=\"(max-width: 1180px) 100vw, 1180px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1180px; --smush-placeholder-aspect-ratio: 1180\/394;\" \/><noscript><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-26969\" src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Bilanz-Bondora-Review-Balance-Sheet-Bondora-Opiniones-Bilan-Bondora-Avis-2025.png\" alt=\"\" width=\"1180\" height=\"394\" srcset=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Bilanz-Bondora-Review-Balance-Sheet-Bondora-Opiniones-Bilan-Bondora-Avis-2025.png 1180w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Bilanz-Bondora-Review-Balance-Sheet-Bondora-Opiniones-Bilan-Bondora-Avis-2025-300x100.png 300w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Bilanz-Bondora-Review-Balance-Sheet-Bondora-Opiniones-Bilan-Bondora-Avis-2025-1024x342.png 1024w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Bilanz-Bondora-Review-Balance-Sheet-Bondora-Opiniones-Bilan-Bondora-Avis-2025-768x256.png 768w\" sizes=\"(max-width: 1180px) 100vw, 1180px\" \/><\/noscript><\/a><\/p>\n<article class=\"text-token-text-primary w-full\" dir=\"auto\" data-testid=\"conversation-turn-30\" data-scroll-anchor=\"false\">\n<div class=\"text-base my-auto mx-auto py-5 [--thread-content-margin:--spacing(4)] @[37rem]:[--thread-content-margin:--spacing(6)] @[70rem]:[--thread-content-margin:--spacing(12)] px-(--thread-content-margin)\">\n<div class=\"[--thread-content-max-width:32rem] @[34rem]:[--thread-content-max-width:40rem] @[64rem]:[--thread-content-max-width:48rem] mx-auto flex max-w-(--thread-content-max-width) flex-1 text-base gap-4 md:gap-5 lg:gap-6 group\/turn-messages focus-visible:outline-hidden\" tabindex=\"-1\">\n<div class=\"group\/conversation-turn relative flex w-full min-w-0 flex-col agent-turn\">\n<div class=\"relative flex-col gap-1 md:gap-3\">\n<div class=\"flex max-w-full flex-col grow\">\n<div class=\"min-h-8 text-message relative flex w-full flex-col items-end gap-2 text-start break-words whitespace-normal [.text-message+&amp;]:mt-5\" dir=\"auto\" data-message-author-role=\"assistant\" data-message-id=\"438b1762-6729-494b-863d-778ceeb73909\" data-message-model-slug=\"gpt-4o-mini\">\n<div class=\"flex w-full flex-col gap-1 empty:hidden first:pt-[3px]\">\n<div class=\"markdown prose dark:prose-invert w-full break-words light\">\n<p class=\"\" data-start=\"0\" data-end=\"286\">The only exception is that intangible assets have now risen above 10% for the first time. The reason for this increase, as stated in the annual report, is that Bondora has capitalized the IT costs incurred in the development and improvement of its proprietary loan origination software.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<blockquote><p>&#8220;The Group has capitalised the IT costs incurred to create and improve the software used by the Group to issue loans.&#8221;<\/p><\/blockquote>\n<article class=\"text-token-text-primary w-full\" dir=\"auto\" data-testid=\"conversation-turn-32\" data-scroll-anchor=\"true\">\n<div class=\"text-base my-auto mx-auto py-5 [--thread-content-margin:--spacing(4)] @[37rem]:[--thread-content-margin:--spacing(6)] @[70rem]:[--thread-content-margin:--spacing(12)] px-(--thread-content-margin)\">\n<div class=\"[--thread-content-max-width:32rem] @[34rem]:[--thread-content-max-width:40rem] @[64rem]:[--thread-content-max-width:48rem] mx-auto flex max-w-(--thread-content-max-width) flex-1 text-base gap-4 md:gap-5 lg:gap-6 group\/turn-messages focus-visible:outline-hidden\" tabindex=\"-1\">\n<div class=\"group\/conversation-turn relative flex w-full min-w-0 flex-col agent-turn\">\n<div class=\"relative flex-col gap-1 md:gap-3\">\n<div class=\"flex max-w-full flex-col grow\">\n<div class=\"min-h-8 text-message relative flex w-full flex-col items-end gap-2 text-start break-words whitespace-normal [.text-message+&amp;]:mt-5\" dir=\"auto\" data-message-author-role=\"assistant\" data-message-id=\"7ff11554-81d6-4388-b122-19ebbcc3deef\" data-message-model-slug=\"gpt-4o-mini\">\n<div class=\"flex w-full flex-col gap-1 empty:hidden first:pt-[3px]\">\n<div class=\"markdown prose dark:prose-invert w-full break-words light\">\n<p class=\"\" data-start=\"0\" data-end=\"173\">In response to my inquiry, Bondora further explained that this approach is also part of the broader effort to align their accounting practices with those of regulated banks.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<blockquote><p>&#8220;This approach is also part of our broader effort to align our accounting practices with those of regulated banks, in preparation for the banking license application.&#8221;<\/p><\/blockquote>\n<hr \/>\n<h2><span class=\"ez-toc-section\" id=\"Bondora_Buys_Back_Shares_Worth_EUR_12_Million\"><\/span>Bondora Buys Back Shares Worth EUR 1.2 Million<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Although Bondora was able to achieve a net profit of EUR 1.2 million last year, its equity position remained almost unchanged compared to the previous year. A closer look at the changes in equity explains why.<\/p>\n<p>Last year, Bondora repurchased EUR 1.2 million worth of shares.<\/p>\n<p>The reason for this is also linked to the application for a banking license. As Bondora explained in response to my inquiry, a smaller and more consolidated ownership structure will help simplify the application and approval process in the future.<\/p>\n<blockquote><p>&#8220;The share buybacks were carried out in preparation for the bank license application process. As the entire consolidation group will fall under the supervision of the Financial Supervisory Authority, having a narrower and more consolidated shareholder base helps streamline the application and approval process.&#8221;<\/p><\/blockquote>\n<p>The share buybacks were also not directly related to the employee share ownership program. Furthermore, no additional buybacks or similar capital measures are planned for the time being.<\/p>\n<hr \/>\n<h2 data-start=\"0\" data-end=\"64\"><span class=\"ez-toc-section\" id=\"Bondora_Invests_EUR_50000_in_Company_Founded_by_Former_Employees\"><\/span>Bondora Invests EUR 50,000 in Company Founded by Former Employees<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"\" data-start=\"66\" data-end=\"164\">Finally, another interesting observation in the notes regarding &#8220;Long-Term Financial Investments.&#8221;<\/p>\n<p class=\"\" data-start=\"166\" data-end=\"477\">According to the report, Bondora Group AS made an investment of EUR 50,000 in the Estonian fintech company FlowstepDesign O\u00dc in August 2023. As a result, they now hold a 1.32% stake in the company, which specializes in UX design and makes digital products more intuitive and efficient through user-centered design.<\/p>\n<p><a href=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Investments-Bondora-Review-Annual-Report-2024.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-27368 lazyload\" data-src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Investments-Bondora-Review-Annual-Report-2024.png\" alt=\"\" width=\"1000\" height=\"255\" data-srcset=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Investments-Bondora-Review-Annual-Report-2024.png 1000w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Investments-Bondora-Review-Annual-Report-2024-300x77.png 300w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Investments-Bondora-Review-Annual-Report-2024-768x196.png 768w\" data-sizes=\"(max-width: 1000px) 100vw, 1000px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1000px; --smush-placeholder-aspect-ratio: 1000\/255;\" \/><noscript><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-27368\" src=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Investments-Bondora-Review-Annual-Report-2024.png\" alt=\"\" width=\"1000\" height=\"255\" srcset=\"https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Investments-Bondora-Review-Annual-Report-2024.png 1000w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Investments-Bondora-Review-Annual-Report-2024-300x77.png 300w, https:\/\/rethink-p2p.de\/wp-content\/uploads\/2025\/04\/Bondora-Erfahrungen-Investments-Bondora-Review-Annual-Report-2024-768x196.png 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/noscript><\/a><\/p>\n<p class=\"\" data-start=\"479\" data-end=\"686\">The company seemed familiar to me, so I did some further research. It turns out that the CEO and co-founder is <a href=\"https:\/\/www.linkedin.com\/in\/mattclannachan\/\" target=\"_blank\" rel=\"noopener\"><strong>Matt Clannachan<\/strong><\/a>, a long-time manager at Bondora with whom I\u2019ve had frequent contact in the past.<\/p>\n<p class=\"\" data-start=\"688\" data-end=\"926\">When asked about the motivation behind this investment, Bondora explained that it is a strategic move aimed at fostering innovation, supporting promising ventures, and advancing entrepreneurial success stories from within their own ranks<\/p>\n<blockquote><p>&#8220;The investment strategically reflects our commitment to supporting innovation, strengthening ties with promising ventures, and fostering entrepreneurial success stories from within its own team.&#8221;<\/p><\/blockquote>\n<p>Since it is ultimately just EUR 50,000, the actual value of this investment can be considered relatively modest. However, it is interesting to see that Bondora is financially supporting the new projects of its former employees.<\/p>\n<hr \/>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion_Bondora_Annual_Report_2024\"><\/span><strong>Conclusion: Bondora Annual Report 2024<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>One thing became clear when reviewing Bondora\u2019s 2024 annual report: the Estonian P2P platform is consistently aligning its operations with the requirements of a banking institution.<\/p>\n<p class=\"\" data-start=\"224\" data-end=\"480\">This shift is evident in changes to the supervisory board, adjustments to the ownership structure, and other regulatory standards that will need to be met in the future. However, Bondora is currently not revealing when this process will be fully completed.<\/p>\n<p>From an investor&#8217;s perspective, the developments towards more compliance and greater transparency are positive. The issue of portfolio quality should remain on the radar for many investors who aim to sustainably earn a return of 6% via Bondora Go &amp; Grow.<\/p>\n<p>Additionally, new investors who sign up by June 4th and invest at least EUR 100 have the opportunity to participate in a prize pool of up to EUR 35,000. More information is available in <a href=\"https:\/\/bondora.com\/de\/blog\/35000-celebration-who-to-take-to-the-maldives\/\" target=\"_blank\" rel=\"noopener\"><strong>this article<\/strong><\/a>.<\/p>\n<div class=\"su-button-center\"><a href=\"http:\/\/bit.ly\/rethinkp2p-go-bondora\" class=\"su-button su-button-style-default\" style=\"color:#ffffff;background-color:#0aad27;border-color:#088b20;border-radius:8px\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"color:#ffffff;padding:7px 22px;font-size:17px;line-height:26px;border-color:#54c668;border-radius:8px;text-shadow:0px 0px 0px #000000\"><i class=\"sui sui-check-circle\" style=\"font-size:17px;color:#FFFFFF\"><\/i> <strong>Earn 6% Return with Bondora Go &amp; Grow (EUR 5 Bonus)<\/strong><\/span><\/a><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":27426,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[215],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>9 Takeaways from Bondora&#039;s 2024 Annual Report - re:think P2P<\/title>\n<meta name=\"description\" content=\"Wondering about Bondora\u2019s financial stability? 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