Credit card risk in Russia is at its lowest
point in three years, according to FICO and Russia’s National
Bureau of Credit Histories (NBKI).
The FICO Credit Health Index for Russia from
January shows “the highest mark since the index was established in
October 2008, revealing a sharp and sustained decrease in credit
risk since 2009,” FICO said in an official announcement.
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FICO establishes the credit risk of a country
by calculating the percentage of consumer loans and credit cards
that are reported to the NBKI and have been delinquent for more
than 60 days.
The FICO index shows that “just 7.05%” of
Russian credit card accounts were delinquent as of January–
compared to 11.28% in October 2009 when it was at its peak.
Evgeni Shtemanetyan, director of FICO’s
operations in Russia, said:
“This improvement stands in contrast to the credit health
problems that we see in many parts of Europe today. It is clear
that Russia is not only recovering from the recession of 2008-2009,
but also that the credit market here is rapidly maturing. The
average Russian is becoming increasingly familiar with credit
products and how to manage them well.”
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By GlobalData
