NovaPay’s credit card portfolio has exceeded UAH 1 billion

Credit cards have become NovaPay’s* most significant lending product in terms of portfolio volume. As of September, it had exceeded UAH 1 billion. The company’s total loan portfolio stands at UAH 2.6 billion.

Around UAH 925 million relates to instalment plans, with a further UAH 206 million relating to the ‘Parcel on credit’. The remainder of the portfolio consists of loans for entrepreneurs, including financing for e-commerce and partners of the NOVA group of companies.

“Around 140,000 customers have already used NovaPay’s loan products since the services were launched. At the same time, 40% of active borrowers use two or more loan products, and around 42% of customers take out repeat loans. For us, this indicates that customers are returning to NovaPay’s credit services and utilising different formats depending on their needs. We are therefore continuing to develop our credit range and working to ensure that these products remain convenient for a variety of usage scenarios,” comments Bohdan Hryvko, CEO of NovaPay Credit.

Over the past 12 months, around 50,000 new customers have used NovaPay’s credit products, more than half of whom have done so in the last six months.

Different credit products cater to the needs of varying scales:

• UAH 5,012 – the average amount of a consumer loan;
• UAH 27,500 – the average credit card limit;
• UAH 422,000 – the average loan amount for individual entrepreneurs in e-commerce.

Thus, a single loan portfolio encompasses a wide range of scenarios: from small consumer expenditure and installment plans to financing the needs of entrepreneurs.

NovaPay is an international financial service from the NOVA Group (Nova poshta). It has been creating convenient financial solutions for individuals and businesses for 14 years, operating both online and offline across more than 3,600 branches throughout Ukraine. The NovaPay app is an innovative financial platform with separate profiles for personal and business needs.

* Lending is provided by NovaPay Credit LLC, licensed by the National Bank of Ukraine on 12 March 2024