CB: the cost of retail credit risk exceeded the historical average in the second quarter of the year

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According to the results of the second quarter of 2024, the cost of credit risk for retail customers of Russian physical organizations exceeded the historical average. This is stated in the review of the Bank of Russia.

In April-June 2024, the cost of credit risk in the retail segment amounted to 2.4%, an increase of 0.8 percentage points (pp). While the historical average is approximately 2%. The regulator attributed this dynamics to the fact that the maturation of loans, which are at high rates to customers with a high debt burden at the end of 2023 and the beginning of 2024, continues.

The Bank of Russia notes that the current dynamics of credit risk in retail generally coincides with the expectations of the regulator. By the end of the year, the indicator is projected at the level of 2-2.4%.

Earlier, the Bank of Russia raised forecast for consumer credit growth to 12-17% this year.