Loans grow and go online: basic trends in microfinance market
27 February 2023
News
In 2022, the number of loans granted by microfinance organisations (MFOs) surpassed the 2021 level by 22%. To a greater extent, the growth occurred in 2022 H2. In particular, the volume of loans to small and medium-sized enterprises increased: entrepreneurs were granted 60 billion rubles, which is 19% more than in 2021.
Last year, MFOs continued to extensively develop online lending, with a 53% increase in the portfolio of online loans. The largest number of online contracts (82%) was signed in 2022 Q4. Some companies began to conclude such contracts with small businesses as well.
Read more in Microfinance Market Trends in 2022.
Preview photo: Fascinadora / Shutterstock / Fotodom