For the first time since 2022, the number of borrowers who are customers of banks and microfinance organizations has dropped by 0.5 million, slightly exceeding 50 million, as reported by credit history bureaus.
Banks have begun limiting risks associated with household over-indebtedness by reducing the average amount of cash loans by 20% and increasing the percentage of loans for terms up to one year by 13 percentage points to 21%.
In the fourth quarter of 2024, there was a decrease of 0.5 million in the number of borrowers with the highest debt burden and no less than three loans. Nevertheless, over-indebted borrowers still constitute about half of the outstanding retail loans.
The number of individuals with mortgages remained stable at 10.2 million, though banks have issued fewer mortgage loans with terms over 30 years. There is also a decrease in the percentage of borrowers taking out consumer loans before applying for a mortgage, indicating a reduced likelihood of using borrowed funds for a down payment.
Further details are available in the information and analytical commentary titled "Analysis of Retail Lending Trends Based on Credit History Bureaus’ Data for 2024 H2."
The preview photo accompanying the report is credited to Urbanscape/Shutterstock/Fotodom.