Category: Mainfin Bank

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Source: Mainfin Bank –

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What risks of economic slowdown has the Bank of Russia identified?

The Central Bank of the Russian Federation published a financial stability review for the period from April to September of this year. The Russian economy is slowing under the influence of monetary easing. Several financial sector issues remain pressing:

The imbalance in the Russian currency market has stabilized, with the dollar-to-ruble exchange rate volatility not exceeding 4.4% over the past month, compared to 9.7% just six months ago. Commercial banks' interest rate risks are also declining, as financial institutions have increasingly begun offering depositors products with floating rates tied to the key rate. Credit risk is the most influential factor, with the regulator seeing potential for an increase in problem debt.

The Bank of Russia has noted an economic slowdown; by September, GDP growth had fallen to 0.6% year-on-year, compared to over 1.1% mid-year. Experts are calling the current economic stage "technical stagnation."

How will credit risks for businesses and individuals change in 2025?

The easing of monetary policy has led to improved terms for credit products, and borrowers' demand for funds has begun to recover. However, the increase in debt is associated with credit risks:

The share of corporate borrowers with problematic obligations in October amounted to 8%, which is slightly less than the level of April; the share of corporate borrowers that are in the yellow zone, i.e. have a high level of risk, increased by 4% (among large companies – 18%, medium – 28%); the share of overdue loans of large companies increased by 0.2% (to 4%) – this mainly affected the portfolio of the construction and oil and gas industries; in the portfolio of loans to private clients, the share of problematic agreements amounted to almost 13%, an increase of 2.1 percentage points over the six months; the highest level of delinquency is among clients with a debt burden above 50%, such borrowers account for 19% of issued loans.

"In the fall, Russians began to more actively seek loan restructuring—the share of applications increased by 79%, which may indicate difficulties with servicing contracts," the Bank of Russia noted.

At the same time, experts don't expect a boom in the credit sector – companies maintain sufficient financial strength, and their debt burdens will continue to decline. It's possible that the regulator will have to further tighten lending requirements for clients with high DTIs. In retail, the share of non-performing loans is expected to increase in 2026, but a surge in defaults is not expected amid low unemployment.

16:32 02.12.2025

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Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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How to pay for a purchase with a QR code in Vietnam via Sberbank?

Customers pay for purchases in Vietnam Sberbank They can use a QR code—the service isn't available at all retail outlets, but the bank's geographic reach is constantly expanding. The transaction is carried out as follows:

The client opens the Sber app and scans the QR code on the terminal. The bank automatically converts rubles to Vietnamese dong. The debit amount is displayed on the smartphone screen. The client confirms the payment.

This option will be useful for Russian tourists, as Vietnam has become a favorite among domestic travelers this year – from January to September, over 430,000 citizens visited the country's resorts, which is almost the second highest number compared to the same period last year.

In which other countries do QR code payments work for Russians?

VTB Bank previously introduced QR code payment in Vietnam. The transaction process is similar, conversion is automatic, there are no transaction fees, and the per-payment limit is up to 350,000 rubles. VTB also provides this service to Russian citizens in other countries, including Kyrgyzstan, Tajikistan, and Turkey, and its presence is constantly expanding.

"The problem with paying abroad is gradually being resolved – friendly countries and destinations popular with Russian tourists are being prioritized," the expert notes.

Russian banks are also actively implementing QR code payments via the Fast Payment System (FPS) in other countries, including the UAE and the Maldives. However, the service is available in a limited number of stores, primarily in popular tourist areas. The launch requires the consent of not only the retailers but also local banks, which are reluctant to sign contracts with Russians due to the risk of secondary sanctions from the US and Europe.

10:00 11/25/2025

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Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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When will a transfer via the SBP raise suspicions with the bank?

Transferring a large amount via the SBP, even between accounts of one client, may raise suspicions jarIf, on the same day, a person attempts to send money to a third party to whom payments have not been made for more than six months, the person will be subject to a new scam: the scammers convince the victim to accumulate all their savings in a single account to which they have gained access.

"Banks will tighten controls over transfers – transactions over 200,000 rubles, including those made through the Fast Payment System (FPS), will come under close scrutiny," the regulator noted.

The introduction of new fraud indicators will help banks protect honest Russians from fraudulent activities. However, this change will have virtually no impact on ordinary citizens—money transfers between their own accounts via the Fast Payment System (FPS) will still be possible without restrictions or fees; suspicion will only arise if you attempt to send funds to a third party.

What other signs of fraudulent transactions are there?

Transferring funds between your own accounts and then sending the savings to another person isn't the only sign of fraud identified by the Central Bank. Financial institutions are required to suspend transactions if they detect any of the following:

The recipient's account is included in the fraudulent list according to the Central Bank of the Russian Federation's basic rules or the bank's own rules; the transaction is unusual for this particular client; the device used to access online banking was previously used by fraudsters; the client changed the phone number used to access their personal account; information was received about the use of an unusual internet provider.

However, it's not just banks that should be making efforts to protect their funds. Russians should adhere to financial security rules: don't share codes and passwords with third parties, no matter who they claim to be, don't enter card details on dubious websites, and don't transfer funds to accounts if you're unsure of the recipient. Fraudsters are constantly refining their methods, but most schemes rely on social engineering—they mislead the victim, who then helps the scammer steal their savings.

10:00 11/18/2025

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Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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Why is the demand for gold growing rapidly in the world?

The increased desire of central banks to shift from dollar-denominated reserves to gold and foreign exchange reserves is a result of the unstable international situation. Factors driving the increased demand for gold include:

the presence of geopolitical uncertainty; economic instability in the world; the desire of banks to diversify assets; the aggressive trade policy of the US President; the increase in the number of military conflicts.

Gold remains the safest and most reliable means of preserving capital during periods of instability. As a result, amid high demand, prices for the precious metal are rising, and central banks are increasing purchases despite the increased cost.

Which countries contribute the most to their gold and foreign exchange reserves?

In September, gold purchases were 79% higher than the previous month – central banks purchased 39 tons of the metal, 27 tons more than the annual average. Among the largest buyers were:

Brazil, which purchased 15 tons for the first time since the beginning of the year; Kazakhstan, which purchased 8 tons; Guatemala – 6 tons; Russia purchased 3 tons of gold in September.

"Banks will continue to increase their gold purchases, which will lead to an even greater increase in prices – precious metals are in demand worldwide amid economic uncertainty," the expert noted.

Even greater demand for gold is expected if the US and China fail to reach a trade agreement: the imposition of tariffs and import bans on certain goods will lead market participants to seek to protect their assets. Factors driving up gold prices include the crises in Japan and France, as well as the US shutdown. This year alone, gold prices have increased by more than 50%, and are expected to rise by 27% in 2024.

09:00 11.11.2025

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Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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How will the Federal Tax Service collect debts from Russians without a court order?

Tax authorities no longer need to obtain a court ruling on individuals' debts – a simplified (automated) procedure for collecting tax arrears has come into effect in Russia. Debt write-off occurs in several steps:

The tax authority that has recorded the arrears sends the citizen a notice—via the taxpayer's account, Gosuslugi, or by mail. Russian citizens have 30 business days to dispute the assessment. If they agree with the debt, no action is required; the amount will be forcibly debited from their accounts within the specified period. If there is a dispute, the taxpayer submits a recalculation request or complaint—either online or by mail. The Federal Tax Service makes a decision on the request within one month; this period may be extended by an additional 30 days. During the review period, the disputed amount will be removed from the Unified Tax System (UTS), allowing the citizen to pay other taxes, and no collection will be carried out.

Based on the appeal, the Federal Tax Service will decide whether to grant the citizen's claim or deny it. If the debt is not recalculated, the taxpayer can file a complaint with a higher-level tax authority.

What are the benefits of writing off tax debts without going to court?

It would seem that the new procedure benefits only tax authorities, as the Federal Tax Service now has more opportunities to collect debts from Russians. However, the simplified debt write-off procedure also has advantages for individuals:

The deadline for filing a complaint against assessed taxes has been increased from 20 (with a court order) to 30 business days; the procedure for assessing and appealing tax arrears has become more transparent; and debtors will no longer have to pay legal fees, which previously increased expenses.

"The interests of debtors will now be protected—automatic debits will be suspended during the proceedings, and the disputed charge will be excluded from the unified account," the Federal Tax Service stated.

Russians will not be able to file a dispute with assessed taxes for all types of payments. For example, it will not be possible to appeal taxes related to business and professional activities, as well as personal income tax declared by the individual (i.e., declared independently).

10:00 04.11.2025

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Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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How have scammers modernized their scheme to extort money from Russians?

This sophisticated scam, like most others, relies on social engineering, whereby the victim is misled and forced to transfer money to the scammers. The scheme involves several stages:

The scammer contacts the victim, posing as an employee of a bank, law enforcement agency, the State Services portal, investment platforms, etc. The victim is offered the chance to "save money" from theft or increase their capital—the cover story can vary. To implement the plan, the victim must transfer their savings to an acquaintance, friend, or relative—ideally, if the two people have previously conducted banking transactions. The acquaintance will then personally transfer the funds to the scammers, without attracting the attention of the bank's security services.

IN T-bank Reports indicate that the number of cases of fraud using victims' friends has increased by 60%. A complex chain of stolen funds helps fraudsters bypass credit institutions' anti-fraud systems.

What should bank clients do to avoid becoming victims of fraud?

Financial security and literacy are talked about literally everywhere – representatives banksThe media, law enforcement agencies, and independent experts are warning Russians about the risks of fraud. However, no preventative measures have yet produced the desired results—people of all ages, social status, and education are falling for scammers. To avoid becoming a victim, experts urge:

Avoid entering payment information on dubious websites; use a separate card with a minimum balance for online purchases; filter calls using software to immediately see who is calling from an unknown number; do not disclose personal information to third parties or share codes from SMS; if you receive a call "from the bank's security service," contact the organization using the official number or visit a branch in person.

"It's important to monitor the payment transactions of children and elderly relatives—these individuals are at the highest risk. It's advisable to enable transaction notifications on your phone and set acceptable spending limits," the expert recommends.

Cyberpolice urges Russians to critically evaluate offers of high incomes, as scammers often disguise themselves as investment platforms. These scams may involve famous people (actors, athletes, politicians), as well as the victims' relatives.

12:00 10/28/2025

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How will banks make money on the digital ruble?

Smart contracts are algorithms that execute preset operations with the digital ruble, such as transferring funds step by step in real estate transactions. Transactions are automated, and administration and control costs are reduced. The Central Bank of the Russian Federation plans to allow banks to profit from the digital ruble—commercial institutions will be granted the right to create smart contracts and publish them.

"There's been increased interest from banks in the digital ruble—major companies are already proposing their ideas, and smart contracts will be an interesting case for them," the Central Bank stated.

The regulator promises to publish the concept in early 2026. The development is being conducted in dialogue with banks, and their interests will be taken into account. Smart contracts will be implemented similarly to app stores: those interested in using the required algorithms will begin paying a fee to the developers.

When will the implementation of the digital ruble in Russia be completed?

The large-scale implementation of digital currency in Russia has been repeatedly postponed; the project is currently still in the testing phase with individuals and businesses. The plan is to introduce the electronic ruble gradually:

By September of next year, banks and large companies with annual revenues of ₽120 million or more will be able to access the digital currency; by September 2027, organizations with a turnover of ₽30 million or more will be able to do so; by September 2028, all organizations will accept the digital currency.

Prominent figures are being recruited to test the electronic payment method. For example, Central Bank employees, including Elvira Nabiullina, are expected to be test subjects; her team will be paid in digital rubles. The new payment method will be most useful in the public sector, where maximum transparency in handling budget funds is essential.

09:30 10/21/2025

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What is known about VTB's palm-based payment technology?

VTB is proposing to identify customers using palm scans through updated payment terminals – the technology is intended to become an alternative to biometrics. Users will be able to pay with their palms using the following method:

The customer places their hand over the IR sensor on the terminal. The system analyzes their unique fingerprint, including the pattern of capillaries. The bank identifies the customer and finds the card selected for payment. The funds are debited—the entire process takes 10-15 seconds.

It is expected that biometric data will be stored in the Unified Biometric System, and for widespread adoption of the technology, the bank will need to upgrade its acquiring terminals. The exact launch date for palm payments has not yet been set.

Which other banks are implementing biometric technologies in payment services?

The rapid development of biometric payments in Russia began amid the imposition of Western sanctions, which limited contactless payments, causing difficulties for clients. Biometric technologies are already in use at several Alfa-Bank branches, where palm-scan access to safe deposit boxes has been available since 2018, but the technology is only available at the flagship branch.

"Russian banks have managed to resolve the issue of blocked payment apps on iOS. For example, T-Bank clients can now pay via T-Pay, and Sber has launched Bluetooth payments," the expert noted.

Sberbank also launched a biometric smile payment platform in 2023; this service will be available to clients of other banks starting in late 2024. Sberbank also announced the introduction of hand-scan payments through Finpolis. To implement this project, the bank will no longer need to update its terminals or connect to the Unified Biometric System (UBS) to store biometric data. Biometric technologies are also being developed in other countries; for example, in China, you can now pay for a subway ticket with your palm.

10:00 10/14/2025

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Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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Who was the first in Russia to receive a "digital" salary?

The first recipient of a salary in the new currency was Anatoly Aksakov, head of the State Duma Committee on Financial Markets. The parliamentarian noted several features of working with the digital ruble, which he was able to test in practice:

The Central Bank of the Russian Federation account is displayed in the bank's standard app; the account balance and completed transactions—debits and credits—can be viewed. Aksakov paid with the new currency at a cafe, although payments are only accepted at locations that have configured digital rubles. Transferring funds through online banking was also straightforward. The parliamentarian also tried transferring funds to a regular account and then withdrawing them from an ATM—no difficulties were encountered.

"Working with the digital ruble is done through the bank's app—no additional software is required," Aksakov noted.

The head of the Financial Markets Committee decided to personally participate in the experiment in order to independently evaluate the procedure for working with the new currency and demonstrate the mechanism to Russians.

How is the digital ruble experiment going?

The digital ruble is expected to be launched next year, while the Central Bank of Russia continues to experiment and test transactions with Russian citizens and businesses. The pilot is being conducted in several stages:

Testing began in the summer of 2023 with a limited number of participants; by the end of 2024, 9,000 Russians and over 1,000 companies had joined the experiment; by the summer of 2025, over 100,000 transactions had been conducted with the digital currency; the total number of transfers exceeded 63,000, payments – 13,000, and smart contract transactions – 17,000; in September, salaries were credited in digital rubles for the first time; later, some students received scholarships in the new currency.

However, public reaction to the introduction of the digital ruble remains mixed: about half of Russians see no advantages in using the new currency. Citizens believe that using the digital ruble will entail increased risks and increased government oversight.

12:00 07.10.2025

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Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.

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How does the Family Mortgage program work now?

Mortgage program The program for state support for families with children has been in operation in the Russian Federation for over seven years, and the terms have been adjusted several times. Thus, in 2025, the following people can apply for a loan:

at a preferential rate of 6% (standard mortgages are issued at 17% per annum and higher); if the family has at least one child under the age of six (or a child with disabilities under the age of 18); the down payment must be at least 20%; the loan amount is 12 million rubles in Moscow and the Moscow region, St. Petersburg and the Moscow region, 6 million rubles in other regions; housing can only be purchased in new buildings or on the secondary market in regions where there are no apartment buildings under construction.

"The preferential program has led to a doubling of real estate prices over five years, while construction volumes have only increased by 10% during this period," the head of the Central Bank of the Russian Federation stated regarding the downsides of state support.

Family mortgage The program is valid until 2030, but may be extended in the future, as it has been on several occasions. This benefit is aimed at stimulating the birth rate and providing opportunities for families in need to improve their housing conditions.

What changes to preferential mortgages are the authorities proposing?

The State Duma has instructed the Ministry of Finance and the Ministry of Construction to jointly develop changes to the terms of the Family Mortgage program. It is expected that the authorities will implement the following lending terms under the state-supported program:

The interest rate will be differentiated and linked to the number of children in the family; upon the birth of a new child, the rate will be automatically reduced; the minimum area of apartments available for purchase will be limited to 35 square meters; the possibility of linking rates to the region of residence and the size of the federal subject is also being considered.

The possibility of banning preferential mortgages outside the region of registration is also being discussed. This debate stems from the fact that 40% of loans were taken out by borrowers in Moscow and St. Petersburg, as housing construction is not taking place in smaller towns.

09:00 09/23/2025

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