The Central Bank of Russia published its 2024 pawnshop market trends, reporting that pawnshops issued loans worth RUB 302 billion during 2024, exceeding the 2023 level. The increase was attributed to a sustained rise in gold prices, while the number of loan agreements remained unchanged at 16.6 million. Gold items served as collateral for 94% of all loans, and the average loan size increased from RUB 16,000 to RUB 21,000. Effective interest rates on pawnshop loans did not exceed 120% per annum, with rates varying materially by collateral type, including typically lower rates for loans secured by motor vehicles; some pawnshops also offer special terms for pensioners, people with disabilities and parents with multiple children. The update also notes increased digitalisation among large pawnshop chains, with more than half issuing non-cash loans and accepting online payments, and that 84% of loans were repaid directly by borrowers to recover pledged items, while remaining cases were settled through sale of the collateral; borrowers may claim any surplus from the sale over liabilities for up to three years.
Central Bank of Russia 2025-06-10
Central Bank of Russia reports pawnshop lending rose to RUB 302 billion in 2024 on higher gold prices
The Central Bank of Russia reported that pawnshops issued RUB 302 billion in loans in 2024, driven by rising gold prices, with the number of loan agreements stable at 16.6 million. Gold items were collateral for 94% of loans, and the average loan size rose to RUB 21,000. The report highlights increased digitalisation, with over half of large pawnshop chains offering non-cash loans and online payments.