Debt On Payday Loan In The Country Decreases

Financial experts summed up the performance of microfinance companies in the second quarter of this year. If we compare the figures with the same periods of the previous year, the number of payday loans grew by almost a third. The total amount of loans issued to the population exceeded 104 billion rubles. The growth of the Payday Loan portfolio has been observed for several years and continues to this day.


Payday Loan Groups, Sectors and Organizations

Payday Loan Groups, Sectors and Organizations

For payday loans apply people of different ages and located in different sectors of society. First of all, clients of microfinance organizations are divided into three groups: individuals, individual entrepreneurs and legal entities. Unlike foreign practice, where payday loans are invented and mainly used to finance entrepreneurs and small businesses, in our country almost all Payday Loan clients are individuals. It is ordinary citizens who come to Payday Loans to take a micro loan in 80% of cases. The remaining 20% ​​divided entrepreneurs and legal. Persons with a small margin in favor of the former. It is also calculated the total number of clients of payday loans. By the end of June, there were just over 6.2 million people.

Despite the overall growth in the microfinance market, the debt on payday loans in our country is declining. Every year people take loans more and more, but contracts are closing more and more often. For the above reporting period, 94.2 billion rubles returned to the Payday Loan cashier’s desk. This is almost half more than last year. Such figures suggest that the introduction of new principles of work in Payday Loans bring their results, and scoring managers began to better evaluate their potential borrowers.

By the end of the second quarter, the number of microfinance companies had sharply increased. Recall that in order to obtain such a status, many stringent requirements are imposed on the organization. At the end of the second quarter, 42 such organizations were recorded. The microfinance companies has various privileges such as issuing its own bonds and attracting public finances of more than 1.5 million rubles. The ABX Bank, of course, more closely monitors microfinance companies.


Its Percentage

percentage of payday loan

The microcredit companies, accounts for more than 98% of the total number of organizations operating in the microfinance market (the remaining two percent is 42 microcredit companies). But at the same time, they give out a little more than half of all official loans in our country, and in the second half of the year they received only a third of all profits.

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