Ukrainians have taken ₴29B worth in microloans and accumulated debt.

In nine months of the current year, Ukrainians were issued six million microloans (MFI) worth ₴29.1B. This is more than in 2022 but 40% less than in the corresponding period in 2021, when citizens took out 10.8 million microloans for ₴48.4B, according to Opendatabot.

At the same time, in the third quarter of the year, the average microloan amount increased to ₴4,985. This is the largest amount since the start of the full-scale invasion and almost 30% more than in the corresponding period in 2021.

In addition, microloan debt is growing by 6% per quarter. Thus, as of the end of September, Ukrainian personal debt in MFIs reached ₴9.44 billion.

Even though Ukrainians actively serviced their debts in 2022 and significantly reduced the total debt amount, it increased again by ₴1.4B this year. More than half of new debt – ₴757 million – arose in the first quarter of the year.