Microloan portfolio of MFOs grows by more than 40% in 2024
In 2024, the microloan portfolio of microfinance organisations (MFOs) reached ₽624 billion. This growth was fuelled by elevated consumer demand.
Medium-term microloans with the total cost of credit (TCC) being close to banks’ interest rates accounted for more than half of the said amount. The microloans were granted for purchasing goods on marketplaces, among other things. The share of the most expensive short-term ‘payday’ loans dropped from 34% to 25% year on year.
The sector’s profit declined by 7% to ₽36 billion. However, amid the limits on the TCC and macroprudential limits, companies received more income from additional activities, which accounted for over a quarter of the sector’s entire income.
More details are available in the Review of Key Indicators of Microfinance Institutions for 2024 Q4.
