NovaPay increases loan portfolio by 60% since year start

The loan portfolio of the international financial service NovaPay has grown by 60% since the beginning of the year and as of the beginning of August reached UAH 1.35 billion, the company reported on Wednesday.

"More than 50,000 clients have active loans, more than 85% of which are consumer loans. Our portfolio has grown by 60% since the beginning of the year," said the director of risk management at NovaPay, Bohdan Hryvka.

The company added that most often clients choose installment loans among loans: the portfolio of this product is UAH 607 million.

In addition to installments, UAH 232 million in the portfolio is customer credit card obligations, the number of which has reached 30,000 since the launch in May, the release says.

As NovaPay recalled, since the summer of last year the company has been lending to individual entrepreneurs and businesses, in particular, more than 250 clients have already taken out loans for UAH 144 million.

As reported, NovaPay issued UAH 1.7 billion in loans in 2024. In particular, the amount of loans issued last year to small and medium-sized businesses amounted to UAH 281.4 million. Since the launch of the installment service in July 2024, 97,000 loans for UAH 600 million were issued by the end of last year.

NovaPay is an international financial service founded in 2001. It is part of the Nova group and provides online and offline financial services in Nova Poshta branches. It was the first non-bank financial institution in Ukraine to receive an extended license from the National Bank of Ukraine in 2023, which allowed it to open accounts and issue cards, and was the first non-bank to launch its own financial application at the end of last year.