In 2024, there was a notable increase in the interest of individuals in their credit histories. The number of credit reports received by individuals rose by 38%, while requests for individual credit ratings saw a 22% increase.
During this period, users of credit history services, including banks and microfinance organizations (MFOs), requested 29% more reports compared to the previous year. MFOs showed a growing demand for services from credit history bureaus due to an increase in online microloans as part of total new loans. Services providing MFOs with credit scoring experienced a year-on-year growth of 40%.
Credit reports play a significant role in helping creditors minimize overdue loans by lending to more solvent borrowers. “According to Bank of Russia calculations, each ruble spent on a credit report may reduce the amount of an overdue loan by more than ₽200.”
Further information can be found in the Analytical Review of Credit Information System for 2024.
