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Bank of Russia analyses key trends in consumer credit cooperative market

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The loan portfolio of consumer credit cooperatives (CCCs) amounted to 45.9 billion rubles as of the end of 2021 H1. The absolute majority (85%) of loans were issued to households, according to the first release of Credit Consumer Cooperative Market Trends in 2021.

The publication highlights that CCCs also finance small and medium-sized enterprises. The CCCs’ corporate loan portfolio of 7.1 billion rubles mainly consists of SME loans.

81 Russian regions have CCCs primarily operating on a territorial basis. Their average age is nine years. However, some CCCs have been in the market for more than 20 years.

Certain CCCs offer special financing programmes. For instance, they issue crop loans at lower rates than those normally available in the CCC market. These loans are used for repairs and agricultural purposes during seeding or harvest periods. Most companies intend to develop additional business areas, e.g. to increase the number of their shareholder financing schemes, promote remote services, etc.

This news item was originally published by the Central Bank of the Russian Federation (CBR RU). For more information, please see the Source Link.

Regulator Information

Abbreviation: CBR
Jurisdiction: Russian Federation

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