MFO market portfolio increased by 1.7 times over the year
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The market of microfinance organizations (MFIs) is showing steady growth, said Ilya Kochetkov, director of the microfinance market department of the Central Bank. According to him, in the period from September 2021 to September 2022, the MFO market portfolio grew by 1.7 times. In the third quarter, the issuance increased by 1.4 times year on year (from 158 billion to 215 billion rubles).
Mr. Kochetkov made these figures public at the XXII National Conference on Microfinance and Financial Inclusion. He said that as of September 30, 2021, the portfolio amounted to 212 billion rubles. At the beginning of this year, it reached 329 billion rubles, in September – 364 billion rubles. The representative of the Central Bank noted that in the third quarter the MFO market “showed strong growth”: the issuance increased by 24% compared to the second quarter, RIA Novosti reports.
According to the National Bureau of Credit History, in October the share of loans overdue over 90 days increased up to 43.1% (6.93 million) of their total number in MFO portfolios. At the same time, the average amount that borrowers take from MFIs has been decreasing for the fourth month in a row, the Webbankir online platform found out. In early November, the requested amount was 11.23 thousand rubles.
Details – in the publication “Kommersant” “Borrowers have reduced requests”.
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