The loan portfolio of the international financial service NovaPay (TM NovaPay) has grown by 60% since the beginning of the year and reached UAH 1.35 billion as of early August, the company said on Wednesday.
“More than 50,000 customers have active loans, more than 85% of which are consumer loans. Our portfolio has grown by 60% since the beginning of the year,” said Bogdan Gryvko, NovaPay’s risk management director, in a press release.
The company added that customers most often choose installment plans for their loans: the portfolio for this product amounts to UAH 607 million.
In addition to installment plans, UAH 232 million in the portfolio consists of customer obligations on credit cards, the number of which has reached 30,000 since the launch in May, according to the release.
As NovaPay reminded, since last summer, the company has been lending to sole proprietors and businesses, with more than 250 customers already taking out loans worth 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 installment services in July 2024, 97,000 loans totaling 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 at Nova Poshta branches.
It was the first non-bank financial institution in Ukraine to receive an extended license from the NBU in 2023, which allowed it to open accounts and issue cards, and was also the first non-bank to launch its own financial app at the end of last year.
According to YouControl, NovaPay’s revenue in the first half of this year grew by 9.3% to UAH 4.53975 billion, while net profit fell by 42.1% to UAH 966.98 million.
Loan services are also provided by a subsidiary, NovaPay Credit, which actively raises money through bond placements. According to reports on its website, NovaPay Credit increased its net profit in the first half of this year by 52.2% compared to the first half of last year, to UAH 53.92 million, with revenue growing 2.7 times, to UAH 260.36 million.
