In 2024, the microloan portfolio of microfinance organizations (MFOs) expanded significantly, reaching ₽624 billion. This increase was driven by strong consumer demand.
Medium-term microloans, with a total cost of credit (TCC) nearly matching bank interest rates, represented over half of this total. These loans were often used for purchasing goods on marketplaces. Meanwhile, the proportion of the costliest short-term 'payday' loans dropped from 34% to 25% compared to the previous year.
Despite this growth, the sector's profits declined by 7% to ₽36 billion. Companies saw increased income from additional activities, which contributed more than a quarter to the sector's overall income, in the context of limits on TCC and macroprudential restrictions.
Further information is available in the Review of Key Indicators of Microfinance Institutions for 2024 Q4.