Simultaneously with the radical decrease in the number of issued microcredits, the indebtedness of Ukrainians to microcredit organizations, which had already reached record levels, also decreased significantly.
The amount of loans provided by microfinance organizations in the second quarter of the current year, decreased by more than 12 times, compared to the same quarter last year. This is reported by Opendatabot, a platform for working with open data, citing NBU data.
Since the outbreak of the full-scale war, both the number of loans and their amounts have decreased.< /p>
Yes, the amount loans provided by microfinance organizations fell to 1.3 billion hryvnias in the second quarter of the current year. This is more than 12 times less than the average amount of microcredit for the quarter of last year — 16.2 billion hryvnias.
The average amount of credit in the 2nd quarter decreased by 28% : from UAH 5,079 to UAH 3,650.
More than 355,646 contracts were executed in the 2nd quarter. This is half the average number of contracts per month back in the first quarter of 2022 and 3.3 times less than the average number of contracts per month in 2021.
Accordingly, debt for microcredits also decreased – by UAH 2.4 billion (by 18%): from UAH 13 billion at the beginning of the year to UAH 10.7 billion at the beginning of July.
Let us remind you that the microcredit market in Ukraine used to be almost the most risky in the field of lending.
Yelizaveta Chizhik, ZN.UA
As ZN.UA wrote, the promise of a “loan at 0%” mostly hid a shocking annual rate. In general, to understand how expensive microloans are, you should know their real rate. The average is 559% per annum. But there were cases for similar loans when the rate reached 1095%.
And if calculated according to the NBU formula, which takes into account the discounting of all future payments on an annual basis, the average annual interest rate on microloans was 54,000%.
When offering a promotion with an attractive rate, lenders forgot to inform that the promotion lasts only for the first three or five days of the loan.
In 28% of the analyzed cases, discrepancies were found in the contract with the verbal information provided by the consultants. Most often, employees of microfinance organizations talked about the absence of sanctions for late payments, although the contract contained them, they hid the nominal interest rate or the real annual rate.
Did it increase the solvency of the client, who is already in financial trouble? Hardly. Read about it in the articleYulia Samaeva –“Microcredits and macro-disposal”. /p>Related video
At the same time, the indebtedness of the population of Ukraine to microcredit organizations increased every year. In 2021, Ukrainians set a record for “quick” loans: in almost 50 billion debt was taken in three quarters.
The most profitable MFIs in Ukraine:
- the largest – UAH 156.1 million in profit – was earned by the company “Consumer Center” (brand“ShydkoGroshy”) in the first six months of 2021, which belongs to the ex-top manager of SCM Amir Aisautov and the family of Andriy Kiselyov, the owner of the scrap metal exporter company “UkrMet” and the ex-Deputy of the OPZZH;
- followed by the company “Aventus Ukraine » (Credit plus, owner – Lithuanian microfinance holding Aventus Group) – UAH 135.8 million;
- the third in terms of profit is another company in the orbit of Kiselyov and Aisautov – UkrCreditFinance (brands Credit Kasa and For Everyone”) – UAH 67.3 million.
