The Russian credit portfolio surpassed the 100 trillion ruble threshold for the first time, reaching 101.2 trillion rubles. This milestone was reported by News with reference to a Central Bank of Russia (CBRF) study. The latest figures highlight a strong tilt toward corporate lending, which remains the dominant component of the credit stack, while personal borrowing also grew steadily amid expanding demand for financing across households and small businesses.
In breakdown terms, corporate loans accounted for about 70.5 trillion rubles, whereas loans to individuals represented roughly 30.7 trillion rubles. The regulator noted a year-to-date loan volume increase of around 19 percent, reflecting broad-based momentum across financial channels that support both business expansion and consumer spending in the domestic economy.
Separately, the Federal Bailiff Service reported a sharp rise in loan defaults among the Russian population during the prior year. The data covers January through September 2023 and shows defaults climbing to 21.1 million individuals, up about 22 percent from the preceding period. The trend underlines growing stress in household finances and the challenges some borrowers face amid shifting economic conditions.
Meanwhile, microfinance institutions tightened their lending terms for borrowers. Data from January to August 2023 indicates that payday lenders extended an average 8.77 thousand rubles to borrowers under microcredit programs, even as applicants sought loans averaging 12.24 thousand rubles. When compared with the same period a year earlier, the actual disbursement grew by roughly 2.5 percent, while the average requested amount rose by about 8.1 percent. These movements suggest lenders are both cautious and adaptive to changing demand patterns in consumer credit markets, reflecting ongoing risk assessment and product structuring by online lenders and traditional microfinance providers.
On the policy side, there were discussions in the State Duma about restricting credit activity for foreign-registered lending entities. Debates centered on safer lending practices and the potential impact of foreign credit providers on the Russian financial system, with lawmakers considering measures to manage exposure and protect domestic borrowers while preserving access to credit through regulated channels.