Category: Russian Finance

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Insurers are facing a tough time – the number of large OSAGO payouts has increased by 37% over the past year.

Translation. Region: Russian Federation –

Source: Mainfin Bank –

An important disclaimer is at the bottom of this article.

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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The Celestial Empire is even closer – VTB will introduce QR code payments in China.

Translation. Region: Russian Federation –

Source: Mainfin Bank –

An important disclaimer is at the bottom of this article.

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

Source:

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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Solid Bank JSC's credit rating has been confirmed at ruBB.

Translation. Region: Russian Federation –

Source: Solid Bank – Solid Bank –

An important disclaimer is at the bottom of this article.

Expert RA confirmedratingSolid Bank's creditworthiness is ruBB with a stable outlook. This implies a high probability of maintaining the credit rating at its current level over the next 12 months.

The Bank's credit rating is determined by:

1. Weak market position assessment. Expert RA noted an increase in business scale: from September 1, 2024 to September 1, 2025, Solid Bank's assets increased by 77%. However, the Bank remains outside the top 100 banks in the Russian banking sector by assets, and its client base in the corporate and retail lending segments is limited.

2. An adequate capital position while maintaining high business profitability. As of 01.09.2025, the Bank's capital adequacy ratios were at an adequate level (N1.0 – 20.6%; N1.2 – 16.7%), allowing it to withstand a potential impairment of about 18% of the asset base and off-balance sheet liabilities at risk versus 11% a year earlier. The growth of the capital buffer is due to the high profitability and operating efficiency of the Bank's activities: ROE under RAS for the period from 01.07.2024 to 01.07.2025 amounted to about 65% versus 36% a year earlier, the CIR indicator was 33% versus 44%, respectively. At the same time, the Agency notes the predominant share of volatile components in the structure of the Bank's financial result, the main part of which is represented by income from foreign currency transactions, sensitive to the external environment. The capital position was further supported by a decrease in capital immobilization through investments in non-core assets, which had significantly declined: over the past 12 months, this indicator decreased from 44% to 29%. The concentration of assets in high-risk credit assets decreased amid faster growth in net assets: high-risk credit assets accounted for approximately 11% of the Bank's net assets as of September 1, 2025, compared to 18% the previous year.

3.      Satisfactory asset quality. In the structure of the Bank’s gross assets as of September 1, 2025, 57% accounted for liquid components, including cash, placements with the Bank of Russia and correspondent credit institutions, as well as a portfolio of securities and digital financial assets. Over the past 12 months, the volume of urgent placements on the interbank market has more than doubled and as of September 1, 2025 reached 28% of gross assets, mainly in the form of repo transactions with NPO NCC (JSC). The share of placements in NOSTRO accounts amounted to 4% of gross assets as of September 1, 2025, of which about 40% were claims on counterparties with ratings and conditional rating classes at the level of ruA- and higher on the Expert RA scale. The securities portfolio formed about 18% of gross assets as of September 1, 2025 and is almost entirely represented by investments in OFZs and debt obligations of issuers with ratings and conditional rating classes at the level of ruA-higher on the Expert RA scale. The client loan portfolio accounted for about 32% of the Bank’s gross assets as of 09/01/2025, of which the main share is loans to legal entities and individual entrepreneurs (about 30% of assets). This portfolio is characterized by an increased level of overdue debt (about 7%) and loans of IV-V quality categories (about 10%). Industry diversification of business loans is at an acceptable level: the top 3 industries accounted for about 57% of the portfolio of loans to legal entities and individual entrepreneurs as of 08/01/2025. As before, the Agency notes the low level of property security of the loan portfolio: as of 08/01/2025, about 21% of the debt of legal entities and individual entrepreneurs was secured by the pledge of real estate and rights to it. The retail portfolio formed less than 2% of gross assets and is mainly represented by unsecured consumer loans. Another approximately 3% of gross assets were investments in high credit quality DFAs. The Bank’s guarantee portfolio for the period from 09/01/2024 to 09/01/2025 increased by 23% and reached 71% of capital; its quality is assessed as low: the ratio of the amount of payments under issued guarantees to the average guarantee portfolio over the last 12 months was 4.6%.

4. An adequate liquidity position. This is due to the Bank's high balance sheet liquidity reserve: the average coverage of attracted funds by highly liquid and liquid assets for the period from 01.09.2024 to 01.09.2025 was 34% and 60%, respectively. At the same time, the Bank retains the ability to attract additional liquidity through repo transactions due to a portfolio of unencumbered securities of high credit quality. The funding structure is characterized by high diversification by sources: funds from individuals and corporate clients as of 01.09.2025 formed approximately 30% and 37% of liabilities, respectively. Another approximately 16% came from funds from credit institutions. The concentration of the liability base on clients remains at an adequate level: the share of the 10 largest groups of creditors, including credit institutions, amounted to approximately 29%, and the share of the largest creditor was approximately 8%. The agency notes a significant increase in funds raised over the past 12 months (78%), primarily due to increased balances in term deposit accounts for individuals and legal entities. However, large payments that could have a significant negative impact on the Bank's liquidity are not expected over the next 12 months.

5. A conservative assessment of corporate governance. This is due to the presence of certain deficiencies in the internal control and credit risk management systems. The Bank operates within the framework of its updated Strategy for 2025-2027. Business planning is conducted annually, with target indicators periodically adjusted based on the current macroeconomic environment. The current strategy envisions organic growth in the Bank's key business segments, maintaining its settlement specialization while actively expanding corporate lending, and launching new products in the areas of bank guarantees and factoring. However, in the Agency's opinion, given the current market conditions, the potential for achieving certain strategic indicators remains limited.

Reference information

Solid Bank JSC is a universal commercial bank founded in 1991 in Kamchatka. In 2017, the head office was relocated to Vladivostok. The bank has offices throughout the country: in the Far Eastern Federal District, Siberian Federal District, Tatarstan, Udmurtia, Bashkortostan, Moscow, Tula, Yekaterinburg, and St. Petersburg. The majority of offices are located in the Far East. For over 30 years, Solid Bank JSC has been providing a full range of services to businesses and private clients. General License No. 1329 of the Central Bank of the Russian Federation dated May 25, 2017.

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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Credit risk is growing – the Central Bank of Russia identified the main problem of the economic slowdown.

Translation. Region: Russian Federation –

Source: Mainfin Bank –

An important disclaimer is at the bottom of this article.

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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Financial News: XBRL Editor Questionnaire (Version 1.592.838).

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

We inform you that technical support and further development of the XBRL Questionnaire Editor software will cease on September 30, 2026.

From the specified date:

New versions of the XBRL Questionnaire Editor software will not be published; updates, bug fixes, and support for this product will not be provided.

For compiling and verifying reports and other information in XBRL format, we recommend switching to the Converter software, which will continue to receive technical support and further development. The Converter software offers comparable functionality.

You can download the latest version of the Converter software, view the documentation and the training video atsection Software that implements the conversion of reporting data is the "Converter" software.

Questions regarding the operation of the Converter software should be sent to the address svch_sbrlnelp@kbr.ru in accordance withProcedure for applying users on issues related to the preparation and presentation of reports in XBRL format.

Any questions regarding the operation of the XBRL Questionnaire Editor software should be sent to svch_sbrlnelp@kbr.ru with the following mandatory conditions:

The subject of the email must indicate "Using the XBRL Questionnaire-Editor software" and the financial market sector to which the organization generating the request belongs. The email with the request must contain contact details indicating the organization, phone number, email address and responsible person, as well as the following information: Version of the XBRL Questionnaire-Editor software. Versions of other software samples mentioned in the error description. Description of the error. Step-by-step description of the actions to reproduce the error. Expected result. Actual result. Screenshots and graphical explanations of the described problem in the *.jpg, *.png, *.bmp formats. Materials used to reproduce the error, as attachments to the email: downloadable XBRL file; downloadable CSV file; downloadable txt file; generated XBRL file; generated reporting package in XBRL format; verification log; data download log in the appropriate format (CSV, XLSX or XBRL); reporting package with the *.ank extension; Excel templates for automatic data loading or unloading. The application.log file can be downloaded from the Help/About section. Frequency of occurrence of the problem. Problem severity. XBRL taxonomy version. XBRL taxonomy entry point. Name of the table in which the problem occurs. System configuration: operating system, including the operating system bit depth; amount of RAM; processor model with clock speed.

Responsible structural unit: Department of Data, Projects and Processes.

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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Financial news: Financial stability review for Q2–Q3 2025.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

The Financial Stability Review is the Bank of Russia's key thematic document. It is published twice a year (in May and November). It describes the vulnerabilities of the financial system, analyzes potential shocks, and assesses the resilience of financial institutions.

A shock is an event that may cause a part of the financial system to fail or cease to function.

Vulnerability is a property of an economy that:

reflects accumulated imbalances in the economy; may increase the likelihood of a shock; and may lead to systemic failures as a result of a shock.

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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Tourists will have it easier – Sberbank has launched QR code payments in Vietnam.

Translation. Region: Russian Federation –

Source: Mainfin Bank –

An important disclaimer is at the bottom of this article.

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

Source:

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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Financial news: Statistics of the national payment system.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

1. Institutional provision of payment services in a territorial context.

2. The number of accounts opened by institutions of the banking system, by territory.

3. Structure of money transfers carried out through the Bank of Russia payment system, broken down by territory.

4. Funds transfers carried out through the Bank of Russia payment system using transfer services, by territory.

5. Average daily, maximum daily and minimum daily quantity and volume of funds transfers of credit institutions carried out through the payment system of the Bank of Russia, by territory.

6. The number of payments made through credit institutions (by payment instruments) by territory.

7. The volume of payments made through credit institutions (by payment instruments) by territory.

8. Structure of money transfers without opening a bank account for the payer – an individual (by territory).

9. The number of accounts with remote access opened in credit institutions, by territory.

10. The number of payments, orders for which were prepared and transmitted electronically by clients of credit institutions and by the credit institution itself, by territory.

11. The volume of payments, orders for which were prepared and transmitted electronically by clients of credit institutions and by the credit institution itself, by territory.

12. The number of payments by clients of credit institutions using payment orders received by credit institutions, by method of receipt, by territory.

13. The volume of payments by clients of credit institutions using payment orders received by credit institutions, by method of receipt, by territorial breakdown.

14. The number of payment cards issued in the region and transactions using them carried out in Russia and abroad, by type of client, by territory.

15. Transactions carried out in the region using payment cards issued by Russian credit institutions, the Bank of Russia and non-resident banks, broken down by territory.

16. Information on devices located within the region and intended for carrying out transactions with and without the use of payment cards, broken down by territory.

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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From November 24, 2025, the Yakutsk office will temporarily operate under a new schedule.

Translation. Region: Russian Federation –

Source: Solid Bank – Solid Bank –

An important disclaimer is at the bottom of this article.

Dear customers!

We would like to inform you that, effective November 24, 2025, the Solid Bank office in Yakutsk, located at 27/1 Kurashova Street, Yakutsk, 677000, Sakha Republic (Yakutia), will temporarily switch to the following operating hours for cash transactions:

• Monday-Friday from 9:30 to 18:00, • break: 12:00-12:30, 15:00-15:30, • Saturday-Sunday – closed.

Please take this information into account when planning your visit to the bank office!

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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The scammers' tricks won't work – large transfers to themselves through the SBP will end up on the list of fraudulent ones

Translation. Region: Russian Federation –

Source: Mainfin Bank –

An important disclaimer is at the bottom of this article.

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

Source:

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.