Overdue rates on consumer loans increased one and a half times

The level of overdue debt on cash loans increased one and a half times last year and reached 1.8%. This follows from the data of the United Credit Bureau (UCB), which Izvestia has. The indicator has been steadily increasing throughout 2024, while before that it was around the level of 1.1% for at least three years.

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Russians are finding it increasingly difficult to repay loans due to high inflation, emphasized Inna Soldatenkova, head of expert analytics at Banki.ru. According to Pavel Biryukov, chief economist of Gazprombank, prices increased by an average of 10% in early February 2025 to the same period last year.

At the same time, income growth last year has already started to slow down - in real terms, people's spending has increased, said Freedom Finance Global analyst Vladimir Chernov. Because of this, people may have had difficulty servicing their earlier debts.

Venera Shaidullina, an economist at the Plekhanov Russian Economic University, added that the growth of delinquency in the banks' portfolios is also explained by the general indebtedness of the population, which has reached historic highs. According to December data, the total amount of citizens' debts to banks, including mortgages, amounted to Br37 trillion.

In addition, economist Alexei Krichevsky emphasized the importance of how these debts are distributed among people. According to him, usually the most indebted citizens have slower income growth, so it's increasingly difficult for them to cope with loans.

Read more in Izvestia's exclusive piece:

Payment is difficult: overdue consumer loans jumped by one and a half times