April 24, 2020
E-mail from Swaper
Dear investor
Another week has passed and here is our weekly update on Swaper.
Firstly, our everyday work remains the same – we are still monitoring the situation together with our loan originators and we still see stable results, that we are satisfied with.
Also, as we have mentioned in previous updates, to indicate an early performance of loan portoflio, we use FPD5 (first payment default, in this case, on the 5th day after repayment date). We have collected FPD5 data of the first quarter of year 2020 and we can see that comparing to year 2019, there is 5.81% improvement in Poland and 5.27% improvement in Spain. This means that there are mentioned % less clients in particular countries that are late for the repayment of loan for more than five days. These numbers are result due to of our changes in risk policy and debt collection procedures, which also decreased the amount of issued loans, however in order to maintain the quality of portfolio, we aim to keep the current policy for as long as it will be necessary.
The next thing we would like to point out and as some of you may have already noticed, we are also updating “About” section in www.swaper.com, where we will add even more information in the closest weeks.
Please do not hesitate to get in touch with us if you have any questions!
Regards,
Your Swaper Team