February Numbers Show Russian Banks Loosening Card Limits and Fueling Demand
In February, Russian banks adjusted their credit card portfolios upward after a recent decline, a shift noted by RBC with data drawn from the Scoring Bureau, a major credit history agency. The first meaningful uptick since the downturn signals a return of appetite for plastic among both lenders and consumers as winter transitions into spring.
The average limit on newly issued credit cards rose to 96.6 thousand rubles, marking a 3.4 percent increase from the prior month. This rebound follows a four month sequence of falling limits, underscoring a pivot in consumer credit dynamics as lenders respond to evolving demand and macro conditions. The move suggests that banks are comfortable extending higher limits to new cardholders, while borrowers appear ready to explore larger credit lines for everyday purchases and planned expenses.
Credit card issuance also climbed in February. Russians opened 2.08 million new credit cards, with a total credit limit of 200.8 billion rubles. The value of newly issued credit surpasses the same period last year by about 20 percent, signaling growing confidence in card-based payment methods as a part of household financial planning. This trend aligns with broader indicators of consumer credit activity showing resilience amid fluctuating macroeconomic signals.
Analysts attribute the February surge to calendar effects and spending cycles tied to holidays in February and March. The short-term uplift in card demand is linked to a greater willingness among consumers to finance purchases through plastic during peak holiday periods. Banks have also introduced incentives such as interest-free periods on certain card products with longer repayment horizons, further encouraging utilization of credit cards over immediate cash payments. The combination of extended terms and promotional offers appears to be fueling a broader interest in card-based financing as households prepare for seasonal spending and travel plans.
Beyond credit cards, consumer loan disbursements accelerated as well. The total credit volume extended to consumers rose by 22.9 percent month over month, reaching 498.9 billion rubles. This uptick reflects a broader trend in retail lending, with lenders signaling openness to longer installment plans and more flexible repayment options for larger consumer purchases and renovations, consistent with cautious optimism in the retail and services sectors.
From a consumer behavior perspective, the February data paint a picture of households balancing the desire for convenient payment tools with careful debt management. The increase in credit availability appears to be part of a calibrated response by banks to a mix of holiday-driven demand and modest improvements in consumer sentiment. As lenders monitor repayment performance and risk metrics, the credit landscape shows signs of stabilization after earlier tightening, which may influence the pace of further increases in credit lines and new product offers in the coming months. [Cited from Scoring Bureau data, with RBC reporting]
As financial institutions adjust strategies to evolving consumer needs, observers will watch for shifts in credit utilization patterns, delinquency rates, and the overall health of household balance sheets. The February results suggest a market cautiously expanding credit availability, with banks seeking to optimize risk-adjusted returns while customers explore flexible payment options to manage everyday expenditures and planned purchases.