Central Bank of Russia urges banks to offer repayment support before borrowers fall into arrears

The Central Bank of Russia has recommended that banks offer support to borrowers facing financial difficulties before they miss loan payments, providing a direct alternative to unscrupulous debt relief intermediaries. Such companies may promise complete debt write-offs or protection of all assets in bankruptcy without delivering those outcomes. Some advise borrowers to stop making payments, worsening their financial position. The concern follows the central bank’s recent complaints review, which linked a 57.3% annual increase in complaints against microfinance organizations in January to September 2026 primarily to debt relief companies. Banks’ support options could include reducing penalties or deferring principal repayments or interest payments, in full or in part. Assistance should extend to borrowers who remain current on payments but face precarious finances, as well as those whose bank records indicate plans to seek debt relief services. Banks are also encouraged to establish a dedicated communication channel through which borrowers can discuss solutions tailored to their circumstances directly with bank employees.