The Central Bank of Russia published statistics from its Analytical Review of the Credit Information System for 2024 showing a marked increase in how often individuals and lenders used credit history data. In 2024, the number of credit reports received by individuals rose by 38% and requests for individual credit ratings increased by 22%. Over the same period, credit history users including banks, microfinance organisations (MFOs) and other organisations obtained 29% more reports than in 2023. Demand from MFOs increased alongside a higher share of online microloans in new lending, with services providing MFO credit scoring up 40% year on year. The Bank of Russia also cited its calculations that each RUB spent on a credit report may reduce the amount of an overdue loan by more than RUB 200.
Central Bank of Russia 2025-05-14
Central Bank of Russia reports sharp rise in individual credit report and credit rating requests in 2024
The Central Bank of Russia's 2024 Analytical Review of the Credit Information System revealed a significant rise in the use of credit history data, with individual credit report requests up 38% and credit ratings up 22%. Credit history users, including banks and microfinance organisations (MFOs), obtained 29% more reports, driven by increased online microloans and a 40% rise in MFO credit scoring services. The Bank noted that each RUB spent on a credit report could reduce overdue loans by RUB 200.