Translartion. Region: Russians Fedetion –
Sours: Mainfin Bank –
Why is the popularity of MFI services growing among Russians?
Sharp increase in share microloans in the total volume of loans issued in Russia was already observed in 2020 and 2022 – against the backdrop of the crisis and sanctions. However, it was in December 2024 that the indicator became a record, which can be explained by several reasons:
reduction in issuance volumes consumer loans by 11% – the market slowed down amid tight monetary policy; a reduction in issuance mortgage loans by almost 17%, which occurred due to the curtailment of programs with state support; strengthening the effect of regulation of the banking sector – the Central Bank of the Russian Federation has been trying to cool the overheated market in recent years; borrowers’ sensitivity banks to high interest rates – cost loans has always been higher, clients MFO practically did not notice any changes.
“Banks do not want to lose clients, so they open “subsidiary” MFIs, where borrowers are offered products similar to those of banks. Medium-term loans are especially popular,” the expert said.
The share of medium-term loans in microfinance organizations has increased by 15% over the year, while the conditions for such products are significantly worse than in banks, for example, the average annual rate reaches 284%.
What awaits the microloan market in 2025?
Analysts predict continued high demand for MFI services – the indicator will continue to grow against the backdrop of the regulator’s policy regarding the key rate. At the same time, no new records are expected, and the Bank of Russia, which is planning to reform the industry, is capable of cooling the microfinance market. Thus, the Central Bank of the Russian Federation is preparing to divide MFIs into three groups, establishing their own rules for issuing loans for each, and then introduce a rule allowing one borrower to conclude only one agreement.
In 2025, the growth rate of the microfinance services market may slow down to 5%, as banks adapt to the new reality and attract clients to the unsecured loan segment. Getting a microloan will still be difficult: now, as before, the percentage of refusals on applications reaches 80%, and no company offers guaranteed approval, contrary to advertising.
15:00 04.02.2025
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