Category: Russian Finance

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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

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: 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.

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Financial news: Requirements for owners, members of management bodies and officials of organizations participating in the financial market.

Translation. Region: Russian Federation –

Source: Central Bank of Russia

An important disclaimer is at the bottom of this article.

The purpose of establishing requirements is to prevent unqualified and unscrupulous persons from gaining control over the activities of financial market participants, as well as to protect the rights and legitimate interests of these participants, their clients and counterparties.

Reference materials, presented in the form of summary tables, will help determine which officials in a specific financial market participant are subject to requirements for business reputation and qualifications, and understand whether the assessment of compliance with these requirements is carried out as part of the approval procedure for a position (requiring the consent of the regulator for appointment (election) to a position) or as part of the procedure for notifying the Bank of Russia of the appointment (election) to a position.

The materials presented also contain information on the existence of requirements for the financial position and business reputation of the owners of financial market participants.

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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Interest rates on deposits have become even higher

Translation. Region: Russian Federation –

Source: Solid Bank – Solid Bank –

An important disclaimer is at the bottom of this article.

Effective November 19, 2025, Solid Bank has made changes to its line of deposits for individuals. Specifically, rates on the "Golden Autumn" and "Stable Interest" deposits have been increased by 0.5%.

Now:

• Base rate for deposit "Golden Autumn" – 16% per annum.

The remaining conditions remain the same:

• Duration – 91 days.

• Amount – from 30,000₽ to 5,000,000₽.

• Interest payment – at the end of the deposit term.

• Base rate for "Stable Interest" deposit – 14.5% per annum.

• Duration – 180 days.

• Amount – from 50,000₽.

• Interest payment – at the end of the deposit term.

• Replenishment – allowed during the first 60 calendar days.

You can read the full terms and conditions of deposits on the bank's website.

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 ceases operations with Zolotaya Korona

Translation. Region: Russian Federation –

Source: Solid Bank – Solid Bank –

An important disclaimer is at the bottom of this article.

Solid Bank is ending its money transfer service with the Zolotaya Korona payment system. Effective November 14, 2025, transfers will no longer be sent or issued.

The termination of this cooperation will not affect the quality and availability of basic services for the bank's clients.

Please take this information into account when planning money transfers.

8 800 775 56 06 (free call within Russia).

www.solidbank.ru

Solid Bank JSC. General License No. 1329 of the Central Bank of the Russian Federation.

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.