In the first half of 2024, there was a noticeable increase in interest regarding credit histories among individuals, alongside a rise in requests for credit reports from banks and microfinance organizations (MFOs). This information is detailed in the "Analytical Review of Credit Information System for 2024 H1."
The data indicates that the number of credit reports and individual rating information obtained by people increased by 34% and 23%, respectively, compared to the previous year. Additionally, reports provided to users such as banks, MFOs, and other organizations rose by 36% year-on-year. Banks accounted for the majority of these reports at 90%. The demand surge is attributed to growing financial literacy and an uptick in retail lending.
Furthermore, the review discusses innovations in regulating the credit information system, detailing the number and structure of credit history sources and users, as well as services offered by credit history bureaus.
This publication aims to enhance awareness among individuals, financial institutions, and credit history bureaus about current trends within the credit information system. It will be released biannually.