Ukrainians’ debt on microloans has grown 1.7 times

In 2024, Ukrainians signed over 8.3 million loan agreements for a total of ₴51.69 billion. While the number of contracts remained almost the same as in 2023, the total loan amount increased by 27%.

The average microloan amount also increased over the year—by 26%. In 2023, people borrowed an average of 4,926 UAH from microfinance organizations, while last year, the average loan reached 6,217 UAH.

On average, microfinance organizations issued 693,000 loans per month, but the number of microloans varied from month to month. The highest number of loans was taken in the third quarter—about 729,000 per month. Toward the end of the year, borrowing decreased to around 691,000 loans per month, but more people started repaying accumulated debts.

Last year, Ukrainians not only took more loans but also accumulated more debt. In the first three quarters, microloan debt doubled, rising from 9.3 billion UAH to 18.47 billion UAH. By the end of the year, the total debt decreased by 2.7 billion UAH. However, this was not enough to improve the overall situation: as of the beginning of this year, the debt to microfinance organizations stands at 15.77 billion UAH—1.7 times more (an increase of 6.47 billion UAH) than at the start of 2024.