Banks have started lending much less money to Russians

In January 2025, banks began lending Russians much less money at interest, TASS reported, citing data from the National Bureau of Credit Histories (NBCH).

According to the results of the first month of this year, the average size of loans issued to Russians decreased by 36.4 percent compared to the December value and dropped to 173.3 thousand rubles. At the end of 2024, the indicator was at 272.4 thousand. Thus, in monthly terms, the average size of approved loans in Russia decreased by 99.1 thousand and dropped to a minimum since the beginning of 2024.

The indicator decreased by 11.6 percent year-on-year. In January 2024, the average size of loans issued to Russians was 196 thousand rubles. Over 12 months, the indicator decreased by 76.4 thousand. The largest average size of loans issued was traditionally recorded in the largest regions. Moscow became the leader (296 thousand), the top 3 also included the Moscow Region (241 thousand) and St. Petersburg (239 thousand).

Experts linked the decrease in the average size of issued loans primarily to the Central Bank's tight monetary policy (MP). Following the February meeting, the regulator's board of directors kept the key rate at a record level of 21 percent per annum. The dynamics were also influenced by macroprudential restrictions, including those related to the debt burden indicator, summarized Alexey Volkov, head of marketing at the National Bureau of Credit Histories.