Cooperatives affiliated with MFOs drive CCC sector’s growth: 2025 Q3 results
In 2025 Q3, the amount of loans issued by consumer credit cooperatives (CCCs) demonstrated growth for the first time since the beginning of the year (+35% quarter on quarter). The number of new consumer loans increased almost sevenfold year on year, while the total number of unit holders rose to 498,000.
The expansion of the loan portfolio was modest overall, constrained by the exclusion of many cooperatives from the state register for violating legal requirements as well as by the rapid turnover of short-term loans.
Higher activity in the CCC sector was due to the tightening of microfinance regulation this year, i.e. the introduction of macroprudential limits for car loans issued by microfinance organisations (MFOs) and the requirement to check whether an individual has set a self-ban before issuing a loan. Against this background, companies are testing options to diversify their business. The Bank of Russia continuously monitors the practices emerging in the market. Upon detecting cases of abusive regulatory arbitrage, the Bank of Russia will apply measures to curb them.
More details are available in the review Consumer Credit Cooperative Market Trends.