The representatives of the rating agency noted positive dynamics in a number of indicators, in particular, an increase in market share and a 1.5-fold increase in the number of active borrowers, a significant improvement in the quality of loans and financial results, as well as increased business profitability.
While doubling the size of the business over the past 12 months, the company has maintained a high level of efficiency. Analysts of the Expert RA agency emphasize that the quality of collection on the principal of the PDL debt has increased significantly since mid-2020, the level of cumulative collection in the Installments segment is characterized as high. In addition to an acceptable level of credit risk management, the rating was significantly supported by the improvement in asset quality.
The expected diversification of the funding base and expansion of ruble funding against the increased business profitability and asset quality may lead to an upgrade in the rating in the mid-term.
More information: https://www.raexpert.ru/releases/2021/dec15a