The pandemic severely impacted Home Credit Group’s new loan volumes, resulting in a 44% year-on-year decline in new loan volumes to EUR 5.9 billion in first half 2020.
As a result, total consolidated net loans declined 20.0% in the six months to 30 June 2020 to EUR 16.2 billion.
Home Credit operating decreased to EUR 1.9 billion for the first half, compared to a 20% decrease in net loans.
In the second quarter, the group’s operating expenses were 17.4% lower compared to the final quarter of 2019.
During the first half, the NPL ratio increased slightly to 6.2% from 5.6% at the end of 2019 and as at the end of June, the group had 10.3% of its loan portfolio subject to payment holidays.