The Central Bank of Russia (CBR), the country’s main monetary regulator, has published aggregated analytical data in the microfinance industry in Russia for Q1’19. The report includes information on microfinance companies (MFOs) which are lenders registered aided by the CBR.
In accordance with the report, MFOs in Russia issued an overall total of RUB 93.8 bln (USD 1.48 bln) in microloans in Q1’19. The sum total profile of microloans expanded by 6% set alongside the past quarter, reaching RUB 174 bln (USD 2.76 bln).
The CBR notes that contrary to the bigger image of loans from banks, this quantity is fairly little. Microloans represent simply 2% associated with consumer-credit profile held by banking institutions (also excluding mortgages). Nevertheless, when compared with Q1’18, the total loan profile of microfinance companies has increased by a noticeable 45%.
The total share of non-performing loans (NPL 90+) has dipped slightly from 26.5per cent to 25.1per cent but continues to be inside the selection of the last couple of years general.
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