The number of microloans increased by 1.5 times in 2023
Delinquencies on microloans are also rising
1 April 2024
Last year, 8,244,855 microloan agreements were concluded for a total amount of 40.62 billion UAH. The amounts and number of microloans are steadily increasing, but still remain lower than the figures before the full-scale war.
However, it’s premature to claim that Ukrainians have become poorer since the start of the full-scale war. Despite increasing by 1.5 times in a year, the number of microloans still accounts for more than half of the volumes in 2021.
On average, Ukrainians took around 700,000 microloans per month last year.
In 2023, Ukrainians borrowed 1.7 times more money from MFIs than in the first year of the full-scale war. However, the total amount of loans is still one-third less than before the start of the full-scale war.
The average microloan amount was 4,926 UAH. This is 7% more than in 2021.
Meanwhile, Ukrainian indebtedness for microloans increased by 16% over the year, reaching 9.3 billion UAH. While throughout 2022 the indebtedness decreased quarterly and reached its lowest point at 8.03 billion UAH as of January 1, 2023, during the three quarters of 2023, it increased each quarter, only decreasing by 144 million UAH by the end of the year.
Source: Opendatabot
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