MFIs maintained the same level of loan volume in the second quarter

According to a study performed by IDF Eurasia (Moneyman), the total volume of microloans issued in 2Q 2020 amounted to about 27 billion rubles, remaining almost the same compared to 1Q.

However, we noticed that loans issued to new borrowers reduced, their number is reducing for the second straight month. Compared with April, in May, loans were given by 6.5% less, and in June it was 15%. At another point, the number of loans given to existing customers is growing for the second straight month. In May, compared to April, such loans were given by 10% more, and in June — by 5% more than in May.

The total volume of all loans issued in June (in numerical terms) relative to May remains at the same level. The growth rate relative to April is 4%. The average amount of microloans issued in 2Q reduced to 13,000 rubles from 14,000 rubles in 1Q.

Irina Khoroshko, CEO of IDF Eurasia in Russia:

“Since there is still uncertainty about the situation with coronavirus and its further consequences, we see that participants of microloan market continue to focus on repeat loans. Growth in the number of loans issued to them is accompanied by decrease in such for new clients and it balances the loan issue in numerical terms. We have expected that the average loan amount will reduce from quarter to quarter, because, in current situation, people are reducing their needs and planning their expenses more efficiently.”