Expert RA has affirmed the credit rating of MoneyMan microfinance company at ruBB+. The stable rating forecast has maintained.
The rating is due to high competitive positions in the MFO market, high profitability and sufficient liquidity, adequate level of credit risk management and adequate assessment of business – processes.
Market positions are supported by a broad customer base and geography of activity. The company demonstrates high operational efficiency (RoA= 21%; RoE= 88% for the period from 01.10.18 to 01.10.19).
During 2017-2018, the company maintained a moderately high debt burden, significant bank account balances and a stable level of fees on issued microloans, which provided high Predictive liquidity values (more than 100%).
The default level of the PDL-microloans portfolio is at an acceptable level. Due to the legislative limitation of the maximum interest rate and the limit of interest accruals, the company has improved scoring system and, as a result, has improved the quality of extended microloans. according to the PDL-cohort of July 2019, the principal debt collection reached a historic high for the company.
As of October 1, 19, the company’s assets amounted to RUB 2.1 billion, capital and reserves amounted to RUB 743.3 million. Outstanding balance on the principal debt of microloans before deduction of reserves as of 01/10/19 was RUB 4.2 billion (RUB 1.4 billion excluding overdue microloans for 90 days or more), volume of microloans issued by the company for the first nine months of 2019 amounted to RUB 7.12 billion. Net profit for the first nine months of 2019amounted to RUB 365.1 million.