Microloan portfolio expands by 11% in 2022: review of microfinance market
Over the year, there was an increase in microloans issued at a high effective interest rate that was close to the maximum. The share of non-performing new microloans edged down, including because companies' and borrowers' behaviour was more cautious. As a result, the proportion of microloans overdue for more than 90 days stabilised at 35%. From 1 July 2023, the limit on the interest rate will be reduced to 0.8% per day, and the maximum debt — to 130% of the microloan amount. This will encourage MFOs to assess their customers more scrupulously.
More details are available in the Review of Key Indicators of Microfinance Organisations for 2022.
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