Russian loan rejections dip slightly—but Kuban still struggles
Fewer people in Russia are being turned down for consumer loans, according to the latest figures. The National Bureau of Credit Histories (NBCH) reported a slight drop in refusal rates last month. However, many regions, including Kuban, still face high rejection levels despite the improvement.
In Kuban, the refusal rate fell from 78.7% in January to 77.6% in February—a decline of 1.1%. This trend matches a broader pattern seen across the country, where lenders are gradually easing restrictions for some borrowers.
Banks are now competing more aggressively for clients with strong credit profiles. Those with a Personal Credit Score above 750 are finding it easier to secure loans. At the same time, lenders are tightening checks on credit histories to reduce the risk of defaults. Despite the improvement, Krasnodar Krai remains among the regions with the highest rejection rates. It ranks alongside Novosibirsk, Orenburg, Omsk, and Volgograd, though exact refusal figures for February 2024 are not yet available for these areas.
The slight drop in loan refusals suggests a cautious shift in lending policies. Banks appear to be balancing risk by favouring high-scoring borrowers while maintaining strict checks. However, rejection rates in many regions remain stubbornly high.
