In 2022, the client base of microfinance institutions increased by 3.1 million borrowers and amounted to 17.3 million people. The growth rate was higher than the 2020 pandemic, but yielded to the 2021 results.

In 2022, the client base of microfinance institutions grew by 3 million borrowers

In the fourth quarter of last year, the volume of loans issued fell by 8.8% compared to the third quarter, to 166 billion rubles, writes RBC.

According to market participants, in 2022, microfinance organizations changed their approaches to screening potential clients and reduced their risk appetite, which affected their client base.

This year, the factors that influenced the slowdown in market growth in 2022 will remain relevant: special operations of the Russian Federation in Ukraine, mobilization holidays, a new format of interaction with credit bureaus, preparation of market participants for legislative restrictions.

According to the new rules established by the Bank of Russia, from the beginning of 2023, banks can issue to clients with a debt load of more than 80%, no more than 25% of the volume of consumer loans issued. The regulator’s measures are aimed at reducing the debt burden of the population.

Author:

karina pardaeva

Source: RB

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I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.

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