MOSCOW, Nov. 28 (Xinhua) — The volume of consumer loan restructuring in Russia surged 79 percent year over year in the second and third quarters of 2025, the Central Bank of Russia said Thursday in a financial stability report.
The slowdown in the Russian economy, even amid cuts to the key interest rate, has pushed credit risks for households and businesses to the forefront, the report noted, adding that while vulnerabilities continue to accumulate, there has been no sharp spike in loan delinquencies.
According to the report, persistently high demand for restructuring reflects ongoing difficulties among borrowers in servicing their debt obligations.
In early September, German Gref, CEO of state-owned Sberbank, stated that the Russian economy was likely to enter a phase of “technical stagnation” in the second quarter of 2025, with data for July and August indicating growth close to zero.
By the end of the third quarter of the year, restructuring carried out over the previous six months accounted for 3.6 percent of the country’s unsecured consumer loan portfolio, said the report.
It also pointed out that while early-stage delinquencies on newly issued loans have decreased, the level remains elevated, with borrowers with a debt-to-income ratio above 50 percent being the most likely to fall behind on payments.
However, Deputy Governor of the Central Bank of Russia Philipp Gabunia said that under the central bank’s baseline scenario of gradual monetary easing in 2026, corporate debt burdens are expected to ease, and most companies are likely to maintain resilience even if profits weaken.
