Almost a third of borrowers in Russia struggle to repay their loans, a finding highlighted by Lenta.ru, which cites Vyberu.ru’s market study for the financial sector. The survey reached 7,000 Russians aged 18 to 65 and aimed to capture a broad snapshot of debt obligations across the country. The analysts at Vyberu.ru report that 52 percent of respondents have at least one active liability to financial institutions, underscoring the breadth of consumer lending in the Russian economy. Within this group, 44 percent are responsible for more than one loan, while 27 percent report difficulties in meeting loan obligations. These figures illuminate a debt landscape where multiple loans can compound repayment challenges and stress household budgets in meaningful ways.
Yaroslav Bajurak, managing director at Vyberu.ru, notes that single-loan borrowers typically meet their commitments without incident. The trouble begins when households carry several loans simultaneously. The concern intensifies if a borrower needs to borrow anew to cover existing debts, effectively rolling one obligation into another. This dynamic can create a precarious debt ladder where timely payments depend on ongoing access to new credit, a pattern that raises questions about debt sustainability and financial resilience among ordinary households.
Recent statements from the Central Bank of Russia indicate growing regulatory attention to this issue. Specifically, Russian borrowers who hold multiple loans concurrently may soon gain access to a structured debt restructuring process, intended to harmonize repayment terms across all creditors. This potential policy shift aims to provide a coordinated framework that reduces the risk of(default) cascading defaults when debt obligations become unsustainable for individuals with high indebtedness. The central bank’s guidance suggests a move toward more predictable repayment plans and improved oversight of lending practices that affect consumer credit markets.
Meanwhile, lawmakers have begun discussions on additional safeguards. In the second half of April, several deputies from the State Duma, led by the head of the financial market committee, Anatoly Aksakov, introduced a bill to empower citizens to request a temporary halt on taking out new credit, a right that would help prevent overindebtedness for vulnerable borrowers. The proposal, while still under consideration in the lower house, reflects a broader legislative push to balance access to credit with prudent lending standards and borrower protection. Critics caution that such measures must be carefully designed to avoid restricting legitimate credit access, particularly for individuals building credit histories or seeking to smooth consumption during periods of volatility. Supporters, however, argue that timely, well-structured interventions can avert deeper financial crises for families and stabilize household finances over the long term. As policymakers debate the bill, financial institutions and consumer advocates watch closely for signals about how credit risk management may evolve in Russia’s evolving lending environment, and what this could mean for borrower behavior and lender prudence. Attributions: Vyberu.ru study and commentary; Central Bank of Russia releases; State Duma discussions on lending restrictions.