Bank of Russia removes information on Microcredit Company UMNYE NALICHNYE from state register

The Bank of Russia removed information on Microcredit Company UMNYE NALICHNYE Limited Liability Company (hereinafter, MCC UMNYE NALICHNYE LLC, MCC) from the state register of microfinance organisations (Registration No. 2103045009694).

The Bank of Russia made this decision in accordance with Clause 1 of Part 1.1 of Article 7 and Clause 8 of Part 4 of Article 14 of Federal Law No. 151-FZ based on the fact that the MCC had violated federal laws, including in the sphere of consumer lending, as well as Bank of Russia regulations, due to which the regulator had repeatedly applied supervisory measures to the MCC over the past 12 months.

In 2024, the MCC violated financial consumer protection requirements, made insufficient provisions, and submitted inaccurate reporting data to the Bank of Russia multiple times.

Furthermore, the MCC distorted the actual values of the debt service-to-income (DSTI) ratio, calculating it based on unconfirmed data on its customers’ income. Understated DSTI ratios made it possible for the MCC to issue loans to heavily indebted individuals. The percentage of such loans issued by MCC UMNYE NALICHNYE LLC was among the highest ones in the microfinance market.

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01.04.2025 17.32.00