Microloan portfolio expands by 11% in 2022: review of microfinance market
The microloan portfolio of microfinance organisations (MFOs) reached 364 billion rubles in 2022. This was driven by the development of remote services, with online lending accounting for 66% of microloans.
Over the year, there was an increase in microloans issued at a high effective interest rate that was close to the maximum. The share of non-performing new microloans edged down, including because companies’ and borrowers’ behaviour was more cautious. As a result, the proportion of microloans overdue for more than 90 days stabilised at 35%. From 1 July 2023, the limit on the interest rate will be reduced to 0.8% per day, and the maximum debt — to 130% of the microloan amount. This will encourage MFOs to assess their customers more scrupulously.
More details are available in the Review of Key Indicators of Microfinance Organisations for 2022.