MFOs recorded an 18% increase in microloan issuance over three quarters
[ad_1]
The volume of microloans issued to Russians exceeded 348 billion rubles. based on the results of the third quarter of 2023, reported the self-regulatory organization (SRO) “MiR”. The year-on-year growth was 18.2%. Major players among microfinance organizations (MFOs) are recording even greater growth.
The SRO “MiR” includes microfinance organizations whose total volume exceeds 85% of the entire market.
SRO “MiR” reported “Izvestia”, that despite updating the overall record, portfolio growth slowed to 5.5% in the third quarter from 6.4% in the second quarter. The issuance of microloans online accounts for 205.2 billion rubles. The number of clients at the end of the quarter reached 19.9 million – 2.7 million more than a year earlier.
MigCredit MFC told Izvestia that their loan portfolio, compared to the three quarters of 2022, more than doubled and exceeded 9.5 billion rubles. MFC “Lime-Loan” recorded an increase in the volume of issuance by 54%, Webbankir – by 42%. Market participants claim that they have not recorded an increase in overdue payments.
In October, microfinance market participants for the first time proposed to the Bank of Russia to make adjustments to the process of introducing strict regulatory standards. In their opinion, successive tightening of regulation by the Central Bank could lead to a significant reduction in the microfinance market.
Read more about the request of market participants in the Kommersant material. “MFIs will pay off clients”.
[ad_2]
Source link
