Credit information system: Bank of Russia’s new publication
In 2024 H1, individuals became more curious about their credit histories, and banks and microfinance organisations (MFOs) requested credit reports more often. Such data are provided in the Analytical Review of Credit Information System for 2024 H1.
The number of credit reports and the amount of information on individual ratings obtained by people over 2024 H1 increased by 34% and 23%, respectively, as compared with the previous year. The number of reports provided to users (banks, MFOs and other organisations) was up by 36% year-on-year. Banks obtained the largest portion of such reports (90%). Increasing demand for credit histories from both individuals and creditors is fuelled by growth in financial literacy and retail lending.
The review also contains information about innovations in the regulation of the credit information system, the number and structure of credit history sources and users, and the structure of services provided by credit history bureaus.
The material which will be published twice a year will raise awareness of individuals, financial institutions, and credit history bureaus of the trends in the credit information system.