Photo: Viktor Korotayev / Kommersant
Microfinance institutions (MFIs) began to abandon unprofitable short-term microloans, leaving the Russians without a loan “to pay”. Writes about this TASS with reference to the head of credit bureaus “Equifax” Oleg Lagutkina.
According to him, short-term loans for small amounts have become unprofitable companies after the Bank of Russia decided to limit the maximum interest rate per day on their loans, reducing their profitability.
As a result, companies began to issue loans for larger amounts. In the fourth quarter of 2019, the average size of loans has increased to 14 thousand rubles, setting a record in the history of observations. For comparison, in the fourth quarter of 2018, the average microloan was $ 12.6 thousand rubles.
The regulator has limited the maximum daily rate for MFIs at the beginning of 2019, and then gradually began to tighten them. So, from January 28 to the indicator set at 1.5 percent a day. The maximum amount of debt (including penalties and fines) were not to exceed 2.5 times the size of the debt. From 1 July the rules have been tightened — maximum rate lowered to one percent and the maximum debt restricted 2-fold amount of the loan.
Video, photo All from Russia.