The Central Bank recorded a 5% increase in loans from MFIs
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The loan portfolio of microfinance organizations (MFIs) increased by 5% to RUB 364 billion, informs Central Bank in the “Review of Key Indicators of Microfinance Institutions” for the third quarter. The portfolio of funds raised by MFIs at the end of the quarter amounted to 104 billion rubles.
“The portfolio of microloans (the amount of debt on the principal debt on issued microloans) at the end of the quarter amounted to 364 billion rubles. (+5% quarter-on-quarter and +19% year-on-year), including loans to individuals — RUB 296 billion. (+6% q/q and +23% y/y),” the review says.
The portfolio of funds raised by MFIs at the end of the third quarter amounted to 104 billion rubles; among the sources of financing for MFIs, the role of bank loans changed: their share decreased from 40% to 37% over the quarter. The share of other legal entities, including founders, increased from 43% to 46%, the survey says.
The average size of a loan issued to individuals also increased: in the third quarter it amounted to 13.7 thousand rubles. (a quarter earlier – 11.6 thousand rubles). At the same time, the average loan size in the PDL segment (short-term payday loans) increased from 8.7 thousand to 8.9 thousand rubles, in the IL segment (loan repaid in installments) – from 14.8 thousand to 18 4 thousand rubles, in the POS segment (issuance of loans for certain goods directly at retail outlets) – from 28.8 thousand to 34.3 thousand rubles, the Central Bank reports.
The net income and profitability of MFIs increased due to the growth in disbursements. Net profit for the nine months of 2022 increased by 28% YoY to RUB 26.3 billion. The share of MFO income from non-core activities (various types of insurance, telemedicine, SMS informing, extended service package) remained high. As a rule, such income prevailed among companies that issued online loans, the Central Bank notes.
Previously “b” analyzed RAS reporting data of 30 largest microfinance companies for nine months of 2022. According to the documents, the total net profit of the companies amounted to 10.26 billion rubles, an increase of 30% year-on-year. Net interest income grew by almost 11% to RUB 29.5 billion.
Read more in the publication “Kommersant” “MFI clients are not returning”.
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