The Central Bank of Russia published its latest review of microfinance indicators, reporting that the microloan portfolio of microfinance organisations (MFOs) reached RUB 624 billion in 2024, growing by more than 40% on the back of elevated consumer demand. Medium-term microloans with a total cost of credit (TCC) close to banks’ interest rates accounted for more than half of the portfolio, including loans used to purchase goods on marketplaces. The share of the most expensive short-term ‘payday’ loans declined year on year from 34% to 25%. Sector profit fell by 7% to RUB 36 billion, while income from additional activities rose to more than a quarter of total income amid TCC limits and macroprudential limits.
Central Bank of Russia 2025-03-28
Central Bank of Russia review shows MFO microloan portfolio up over 40% to RUB 624 billion in 2024
The Central Bank of Russia's review shows the microloan portfolio of microfinance organisations (MFOs) grew over 40% to RUB 624 billion in 2024, driven by high consumer demand. Medium-term microloans with costs close to bank rates now dominate, while costly short-term loans decreased from 34% to 25%. Despite a 7% drop in sector profit to RUB 36 billion, income from additional activities increased, comprising over a quarter of total income.