Individuals become increasingly interested in credit histories in 2024
In 2024, the number of credit reports received by individuals increased by 38% and that of requests for individual credit ratings – by 22%.
Over the said period, credit history users (banks, microfinance organisations (MFOs), and other organisations) received 29% more reports than in 2023.
MFOs’ demand for the services of credit history bureaus was growing amid a rise in the proportion of online microloans in total new loans. Services to provide MFOs with credit scoring were up by 40% YoY.
Credit reports help creditors reduce the amount of overdue loans in their portfolios by lending to more solvent borrowers. According to Bank of Russia calculations, each ruble spent on a credit report may reduce the amount of an overdue loan by more than ₽200.
Further details are available in the Analytical Review of Credit Information System for 2024.