Category: Mainfin Bank

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Why did the authorities abandon the idea of banning microfinance organizations?

The Central Bank did not support the idea of a complete ban on the activity microfinance companiesRegulatory officials cite several reasons why microfinance organizations should continue operating:

The services of such companies are in demand on the market, and the number of borrowers exceeds 15 million people;
microloans They allow for quick and easy cash withdrawals; microfinance products are also popular in the POS loan segment, which citizens can apply for directly in stores; the microfinance services market is actively developing and improving.

"We need to focus not on banning microfinance organizations, but on improving the quality of services, including combating unscrupulous market players and fraudsters," the regulator's representative noted.

By the end of 2025, the microfinance services market is expected to grow by between 5% and 16%, half the 2024 figures. However, MFI services remain in demand, and the total amount of problem debt owed by clients of such companies exceeds 1.1 trillion rubles.

How is microloan regulation being tightened in Russia?

The authorities abandoned the idea of banning microfinance organizations, but decided to focus on tightening regulation. Among the most significant changes in the microcredit sector:

In July 2025, microfinance organizations (MFOs) were prohibited from using unofficial income data; in September of last year, lenders were prohibited from making mass calls to clients; also, starting in the fall, MFOs must verify loan recipients – money can only be sent to the person specified in the loan agreement; in January 2026, it was prohibited to issue more than one loan per citizen with an interest rate exceeding 200% per annum; in the spring of 2026, MFOs will identify borrowers only by biometrics (with exemptions made only for small companies); in April 2026, the maximum cost of a microloan will be reduced from 130 to 100% of the original amount; in 2027, MFOs will be prohibited from entering into additional agreements under which lenders previously included fines and penalties in the loan principal.

As a result, experts predict a crisis in the microfinance services market due to the new laws. By the end of 2026, approximately 150 companies, or over 15% of all MFIs in Russia, could exit the industry.

10:00 01/20/2026

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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 does Russia's financial sector have the right not to disclose information?

The financial sector of the economy came under a massive blow from sanctions after the start of the Western Economic Cooperation (WEC) – in 2022, the West began imposing restrictions on large Russian companies, including banks, as well as individuals associated with this business. To combat sanctions, the regulator has permitted financial institutions not to publish "sensitive data," including:

information about management bodies; information about business owners; data about company officials; information about reorganizations; information about business activities.

Currently, disclosure of ownership structure information is a right, not an obligation, for businesses operating in the financial sector. The regulator has calculated that only 3 jar out of 352, as well as 28% microfinance organizations, 12% of management companies and less than 8% of NPFs and insurers.

How will banks disclose information about owners from 2027?

Businesses were granted the right not to disclose information about the owners and managers of financial companies until the end of 2026. However, starting in 2027, these exemptions will be partially lifted – organizations will be required to disclose information based on 12 criteria, including the following:

the presence of persons under whose control the bank is located (microfinance organizations, non-state pension funds, etc.); the presence of citizens of "unfriendly countries" among the owners; participation in the capital of companies whose licenses were previously revoked by the Central Bank.

"Financial institutions will be able to disclose information in a new, anonymized format. If they are not satisfied with this approach, publication under the old format is possible," the Central Bank of the Russian Federation stated.

At the same time, the regulator is already trying to satisfy the market's need for information: the Bank of Russia's website publishes data on credit institutions' compliance with regulations. Most Russian banks, including Sber, T-Bank, VTB, PSB, Gazprombank And Alfa-Bank.

09:00 01/06/2026

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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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What budget payments will be made using the electronic ruble?

The government has published a list of expenses for which transactions can be made using the digital ruble. The list includes the following federal budget expenditures:

Social payments to citizens; salaries of civil servants; financing of construction services; repair work at government facilities.

Starting in 2026, payments to the budget and government agencies can be made in digital rubles. The Ministry of Finance clarified that using the new form of national currency is only possible at the citizen's discretion; authorities will not force Russians to open accounts. Social benefits and wages will continue to be received in the usual format—via bank accounts and MIR cards.

How is the digital ruble being launched in Russia?

An experiment with a digital ruble was launched in Russia in the summer of 2023. This new form of payment was intended to be an alternative to cash and non-cash payments. By 2025, over 9,000 individuals and over 1,000 companies had joined the project, and approximately 100,000 transactions had been conducted using the currency. Large-scale implementation has been repeatedly delayed due to banks' reluctance to lose profits, as well as the lack of technical and legislative readiness.

"In mid-2025, the law on the digital ruble was signed by the president. Large companies will be required to use the new payment method starting in September 2026, while other market participants were granted a deferment until 2028," the expert recalled.

The first budget payments using the digital ruble were made this fall – the federal budget then transferred the salaries of a parliamentarian and several students, as well as payments for government contracts. The project is continuing to expand, and the Central Bank plans to raise public awareness of the new payment method.

12:00 12/30/2025

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What was the growth rate of consumer prices in Russia in mid-December?

Inflation in the country began to slow in December – prices rose by 0.05% in the first week of the month, and by 0.06% in the second. Since the beginning of the year, the increase has been approximately 5.4%. Compared to last year, inflation has slowed. According to the Central Bank, in December 2024, the price growth rate was 6.12%, and now it is 5.8%.

The Ministry of Economic Development also confirms this trend: in the first ten days of December, inflation slowed to 6.08% (compared to 6.34% a year earlier). However, experts agree that the slowdown in price growth is only temporary, driven by seasonal factors; it's too early to talk about the sustainability of this trend.

What will happen to inflation in Russia at the beginning of 2026?

The slowdown in price growth in December is a positive development, but inflation expectations remain high in the country. Price growth for goods and services is projected to accelerate in the first months of 2026, driven by several factors:

An increase in the VAT rate from 20 to 22%; the abolition of certain business benefits that reduce the tax burden; high borrowing activity among Russians; and a worsening budget deficit.

"The state budget for next year includes a key rate of 12-13% per annum, but the Central Bank of the Russian Federation believes the actual rate will exceed the forecast level: this contradiction calls into question the ability to fulfill budget plans," the pessimistic expert believes.

Moreover, at its most recent key rate meeting, the Central Bank of Russia noted that monetary policy in Russia will remain tight. The regulator is signaling the end of the rate cut cycle, and if inflation accelerates, the rate may even be revised upward. The next key rate decision will be made on February 13, 2026. The Central Bank expects inflation to fall below 5% next year.

15:30 12/23/2025

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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 has the number of OSAGO payments changed in 2025?

A significant increase in OSAGO payments was recorded regardless of the compensation amount – over the first 9 months of this year, the changes were significant:

The number of large payments (from ₽350 to ₽400 thousand) increased by 37%; the number of payments in the range of ₽300 to ₽350 thousand increased by 14%; insurers began to pay out 27% more often for damages in the amount of ₽250 to ₽300 thousand; an 18% increase was recorded in the group from ₽200 to ₽250 thousand; the number of claims for damages from ₽150 to ₽200 thousand increased by 24%.

The requirement to obtain compulsory motor third-party liability insurance (OSAGO) is stipulated by Russian law. Driving without it is prohibited, and violators face a fine (Article 12.37 of the Code of Administrative Offenses of the Russian Federation). Furthermore, in the event of an accident, the uninsured party responsible for the damage is responsible for their own compensation, which, given the constantly rising prices of auto parts, entails significant financial costs.

What's happening to MTPL rates amid rising payout volumes?

The Central Bank of the Russian Federation has revised the terms of compulsory motor third-party liability insurance (CMTPL) policies. The rate corridor for car owners has been expanded by 15% in both directions, while the limits for motorcyclists have been adjusted by 40%. These changes are intended to ensure that Russians receive the fairest possible prices for their policies. However, the new approach has sparked outrage. For example, in Novosibirsk and several districts of Ingushetia, the territorial coefficient has doubled, citing unscrupulous driver behavior as the reason.

"In Novosibirsk and Ingushetia, the level of fraud in the compulsory motor insurance (OSAGO) sector has remained high for the past five years, and the average payout is 1.5 times higher than the national average," the expert notes.

Conscientious drivers will be held accountable for the actions of unscrupulous policyholders, as the territorial coefficient in the aforementioned regions will increase for every policy buyer. Experts fear that the consequences of these changes for residents of Novosibirsk and Ingushetia will be dire: purchasing compulsory motor third-party liability insurance will become an impossible task, and insurers will simply shift their risks onto drivers.

10:00 12/16/2025

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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 QR code payments work in China?

The launch of payments via QR codes in China is expected to take place in 2026 – the management has not specified the exact dates. VTB It hasn't been announced yet. However, we already know how the technology will work:

Russian and Chinese QR codes will be matched. The customer will need to open the VTB app in the store and scan the QR code from the terminal. The system will send a request to the bank for a secure payment. A successful transaction message will appear on the terminal, completing the purchase.

The service is essential for Russian tourists in China, as traditional bank card payments are restricted abroad: Visa and MasterCard have left due to Russian sanctions, and UnionPay has been suspended. banks from Russia operates in other countries with significant restrictions.

In which other countries is VTB Bank's service available?

China isn't the only country where VTB Bank offers QR code payments to Russians. The financial institution previously launched a similar service in Vietnam. The service operates through the Russian-Vietnamese Bank and is available in 3,000 stores across the country (primarily in tourist areas).

"We continue to develop payment infrastructure in countries popular with Russian tourists: in Vietnam, we plan to expand the coverage area for QR code payments," said VTB CEO Andrey Kostin.

The technology has already been implemented in Kyrgyzstan and Tajikistan; the list of countries where VTB provides the service may expand in the future. Sberbank, which previously launched payments via Sber Online in Belarus, Azerbaijan, Vietnam, China, Tajikistan, and Kyrgyzstan. However, the availability of QR code payments depends on the merchant.

09:00 09.12.2025

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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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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.