Microloan market continues to cool: 2026 Q1 results
In January–March 2026, microfinance organisations (MFOs) issued loans amounting to ₽482 billion, which was 7% less than in 2025 Q4. The decline was caused by the requirement to use biometrics when issuing online loans and tougher approaches to calculating the debt service-to-income ratio.
Since the beginning of the year, MFOs may not use unverified information about borrowers’ income. In addition, starting 1 October 2026, the number of simultaneously outstanding expensive loans (with the effective annual interest rate exceeding 200%) per individual will be limited to two. In response to these changes, MFOs have increased the issue of microloans with a credit limit (similar to a credit card). Companies are using them as a replacement for traditional products, as this will help them reduce operating costs and retain customers longer. The terms of limits opened in January–March 2026 were three to five years, with the average limit amount equalling just over ₽50,000.
More details are available in the publication MFO Market Trends in 2026 Q1.