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    MFOs showed the quality of their clients // Microfinance borrowers are reaching the banking level

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    Microfinance institutions (MFOs) have begun to focus on more affluent clients and are increasingly seeking to work with the banking audience. Against the backdrop of tighter regulation of the microfinance market and scoring in the segment, banks have become more loyal to former and current clients of MFIs. However, in the conditions of economic instability and high risks, the intersection of the banking and microfinance audience remains insignificant.

    Large microfinance organizations reported on the results of their work in January-June. From the published results of 26 companies, it follows that the net interest income of players increased by 10%, to 15.9 million rubles, net profit – by 30% (despite a decline of 18% in the first quarter), to 5.7 million rubles. Some companies also showed an increase in personnel and advertising costs – by 40%, to almost 5 million rubles, and for the largest players this figure increased two to three times.

    including the tightening of competition for customers in the market (see Kommersant of July 5). Also, MFIs have a growing number of clients with a relatively high income, the attraction and retention of which requires large investments on the part of companies. For example, according to a study by MFC Seimer, among people who earn more than 50 thousand rubles, there are already more MFO clients than citizens without microfinance experience (27.7% vs. 22.6%).

    MFIs prefer to work with a more affluent category of clients, seeking to reduce their risks in a crisis situation, as a result, direct competition between market participants for borrowers and banks is growing. According to a joint study by Moneyman and the National Bureau of Credit Histories (NBKI, one of the top 3 in terms of credit histories), which Kommersant got acquainted with, the presence of a microloan in the credit history has ceased to be a stop factor for banks when making a decision to issue a loan .

    More than 80% of all borrowers in whose credit history in 2019-2022 the first record of obtaining a loan (loan) was formed by an MFI requested a loan from a bank after paying off a microloan, according to a study by Moneyman and NBKI. At the same time, more than half of the clients received approval from banks (50.4%). Most often, such borrowers wanted to open credit cards – 69.3%, followed by consumer loans (68.9%). Car loans and mortgages account for 3.2% and 3.1%, respectively.

    Until recently, the situation was somewhat different: those citizens who were turned down by banks went to MFIs. “During the initial application, borrowers, due to insufficient financial literacy, might not even be aware of the difference between a bank and an MFO,” notes Pavel Verevkin, an investment strategist at Alor Broker. go to a more supportive MFI.”

    “The situation is changing, as the state has rather rigidly regulated the scope of work of MFIs,” says Ekaterina Tokareva, partner at Pen & Paper. “Credit organizations are guided by the indicator of personal credit rating (PCR), which is formed on the basis of both banking products and microloans,” adds Alexei Volkov, Marketing Director of the NBKI. “Conscientious service is of key importance.”

    “Now even financial advisers recommend that consumers with zero credit history begin their relationship with the debt market with a microloan service, then switch to credit cards or POS loans, and after successful, conscientious and timely repayment of these obligations, apply for larger consumer loans and secured borrowing in the form of a mortgage or a car loan,” says Yevgenia Lazareva, project manager of the People’s Front “For the Rights of Borrowers”. This allows banks to better assess the payment discipline of a new potential client, she explains.

    The intersection of the audience of bank borrowers and MFI clients is still not too large. According to Dmitry Afrikanov, General Director of the Unicom24 financial ecosystem, the intersection of clients (those who occupied both in MFIs and in the bank) is only about 15%. However, the expert notes that against the backdrop of tightening scoring by microfinancers during the pandemic, such client transfers ceased to pose a significant threat to the quality of bank portfolios.

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