Russia’s 2024 Consumer Debt Trends

During the past year, Russians with three or more loans rose by about 20%, reaching 13.2 million people as of June 1, 2024. The Central Bank of Russia documented these figures in its latest review, drawing attention to a notable shift in household credit behavior. This trend reflects broader access to consumer lending while also signaling growing exposure to debt if incomes shift or rates rise. It matters for banks, financial institutions, and policymakers who monitor financial stability, servicing costs, and the resilience of borrowers. The data illuminate how the landscape of household finance is evolving, with lenders expanding product options and distribution channels across the retail credit market while borrowers juggle multiple obligations.”