As another week is passing by, we are giving you another update on Swaper during the COVID-19 pandemic.
As in previous blogs we did not have full data results for the whole month of March, we have finally compiled it and we would like to introduce you with our full results. As we have mentioned in our previous blogs, we use FPD5 (First payment default, in this case, on the 5th day after repayment date) – as an indicator of an early performance of loan portfolio. If we look at the latest numbers, the FPD5 for Poland have dropped by 2,65% comparing to February and in Spain, the FPD5 stands of March is lower by 7,05% if comparing with February 2020. These data still clearly indicate an increase in overall performance.
We believe that previously mentioned numbers are a result of countless actions in our risk management and debt collection. We are still continuously strengthening our risk management efforts and will keep doing that till it’s necessary. We are also keeping in touch with our clients regarding their options to repay the loan. In this case, nothing has changed –to ease our client’s financial status, we offer to split the repayment of the loan in parts or extend the repayment date. Here is worth to mention, that even when it is possible to apply for credit holidays in Spain (for those clients who applied for their credit before April 2nd), most of our clients choose to use options that we offer, instead of postponing the repayment of their debt. These previously mentioned actions result in the increase of our performance and good numbers.
As importantly, Buyback and interest payments are executed as usual and there aren’t any changes any changes or delays with withdrawals as well as services provided.
Taking in notice the current situation, we will continue to update you at least once per week with our news regarding our actions during COVID-19 pandemic and if needed, even more often. And to keep us transparent as possible, we are sharing unaudited results of year 2019 of Swaper platform:
Once the official audit will be finished, provisionally the end of May 2020, we will publish our financial data here, and once we do, we will inform you as always!
If you have any questions, do not hesitate to get in touch with our Support Team.
Your Swaper Team