August registers fewer complaints against banks

In August 2018, the Bank of Russia received 19,200 complaints from financial consumers.  Over 10,500 complaints were against banks with the largest share (40%) of issues concerning consumer lending. The number of complaints against credit institutions decreased by 7.5% as compared with July, while the share of issues concerning consumer lending rose by 2 pp.

The number of complaints against non-bank financial institutions also diminished: 6,900 complaints were received in August or 6% less than in July. Of which the largest share (61%) of complaints were against insurers. Petitions against insurance agents totalled 4,200, of which the overwhelming majority (3,400) were complaints about OSAGO.

The share of complaints against corporate players (issuers), professional participants and entities in the collective investment segment dropped by 1 pp in August as compared with July.