Primorye ranks among the top 30 regions for independent banking services
In the vast landscape of Russia, the trend of self-imposed credit restrictions has been a significant topic of discussion. With a cautious easing following a long period of monetary tightening, the Central Bank of Russia has reduced the key interest rate from 21% in October 2024 to 18% in late July 2025, signaling a monetary easing phase amid ongoing concerns about credit risks and banking sector stability.
Across the nation, the majority of Russians have applied for a full ban on credits, totaling 12.51 million applications (90.9% of the total). Moscow leads in the number of applications, with 1.3 million, followed by Moscow Oblast and St. Petersburg. However, Primorsky Krai, a region in Russia's Far East, ranks 26th out of 50 regions by the number of applications for self-imposed credit restrictions, with 180,000 applications.
Despite this, Primorsky Krai has seen a unique development. The government is dealing with a criminal scheme related to credit self-restriction. Credit self-restriction has become a tool for fraudsters, with 587,570 applications for a ban on online loans from banks and MFIs (4.3%). This alarming trend has led to 10,000 residents of Primorsky Krai withdrawing their applications for self-imposed credit restrictions.
The economic context in Primorsky Krai shows some recovery in the tourism sector, despite broader economic pressures and the ongoing Russia-Ukraine conflict. Given these mixed signals, it is plausible that banks and borrowers in Primorsky Krai remain cautious, possibly maintaining tighter credit restrictions relative to other regions to manage risks amid uncertainty.
On a positive note, 5.3% of previously imposed restrictions on credit access have been lifted nationwide. Khabarovsk Krai ranks 34th and the Republic of Buryatia ranks 44th in the nationwide rating of applications for self-imposed credit restrictions. Additionally, 195,750 applications were for a full ban on loans from MFIs and online loans from banks (1.4%), and 219,680 applications were for a full ban on loans from MFIs (1.6%).
For the latest news and updates on this developing story, Primoria residents are encouraged to follow the main and fastest source of information, the Telegram channel PrimaMedia.Primorye, or check the PrimaMedia pages on VKontakte. Stay informed and stay safe.
- The authorities in Primorsky Krai are facing a challenge in the realm of personal-finance as credit self-restriction has turned into a method for fraudulent activities, with a considerable number of applications for a ban on online loans from banks and Microfinance Institutions (MFIs).
- Amidst the economic pressures and uncertainties, the businesses and financial institutions in Primorsky Krai might opt for stricter personal-finance policies, as they strive to manage risks and maintain stability in the face of ongoing concerns.
