Bank of Russia compiles first MFO ranking by number of complaints
The ranking includes microfinance organisations (MFOs) with at least two complaints about the issue of microloans made against them in 2025. The regulator takes into consideration only substantiated complaints involving violations of consumer rights.
The indicator covers complaints lodged by individuals with both the Bank of Russia and financial ombudsmen. This instrument will encourage MFOs to enhance the quality of their customer service and improve the property settlement process.
‘We have started publishing the rankings of insurers and banks on our website. We see that they prove to be an effective public benchmarking tool measuring organisations’ customer centricity,’ notes Deputy Governor of the Bank of Russia Mikhail Mamuta. ‘On the one hand, market participants put into the top of the ranking make efforts to improve their business processes, revise their customer service models, and address the issue of poor quality in this very important area. On the other hand, the ranking helps people choose an organisation with a better customer focus. As a result, the number of complaints against particular MFOs and the MFO market as a whole is gradually decreasing. The extension of public rankings to MFOs is a logical step to make this market more customer-friendly.’
MFOs are divided into two tables, with the first one comprising large entities (with over one million microloan agreements) and the second one covering small ones (with less than one million microloan agreements). This will help customers compare companies whose client bases are similar in size. An MFO’s ranking depends on the number of complaints per 100,000 microloan agreements.