The volume of the cession market has decreased from 90 billion rubles in 2020 to 40 billion this year, as can be seen from the data of SRO NAPKA. They expect sales of debt to collectors in MFOs to remain at $ 40 billion in 2022.
It is necessary to create reserves for the portfolio of overdue debt, therefore it is more profitable to sell it. However, the peak of cession transactions was in 2020, and new debts have not yet reached the optimal date for sale, said Boris Voronin, director of SRO NAPKA.
In addition, now MFIs began to get rid of debt much earlier than in 2020. The companies have also tightened the conditions for issuing loans, said David Tsatsua, general director of the Stolichnoye AVD collection agency. Overdue debts on the MFO market as of September 30 amounted to 29.5% of the total portfolio, the Central Bank said.
Microfinance organizations confirmed the reduction in the sale of debts and noted their rise in price. For the first time in several years, overdue sales fell by 60%, said Leonid Kornilov, Chairman of the Board of Directors of the Finbridge Group. The decline is also due to the introduction of a number of restrictions on the assignment of rights to loans and the development of collection services on the basis of MFOs, says Igor Alekseev, senior director for bank ratings of the Expert RA agency.
Read more in the exclusive material from Izvestia:
Swap concessions: sales of debt to collectors in the MFI sector halved
Source: IZ
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
