Over two hundred thousand credit cards were issued in Kuban during the first four months of the year.
Breaking News, Krasnodar, June 3 - Yug Times. Here's the lowdown on credit cards in the Krasnodar region. From January to April, around 201,000 credit cards were doled out, marking a 47% drop compared to the same period last year when 379,500 credit cards were issued.
The regions feeling the tightest squeeze? Samara (-54.8%), Moscow (-53.5%), Moscow region (-53.3%), Sverdlovsk region (-52.6%), and Rostov region (-51.7%) reported the most significant declines in new credit cards issued.
Aleksey Volkov, Director of Marketing at NБКI, chimed in, "After a dip back in 2024, credit card issuance kinda leveled off in 2025, but the numbers from this year are roughly half of what they were last year." Why the drop? The financial regulators are keeping a firm grip on the monetary and credit policies to put a dampener on the credit market. One of their strategies is enforcing debt-to-income ratio (DTI) restrictions, which has kept bankers playing it cool. Lenders are now focusing solely on borrowers with stellar credit reputations, those with a pristine credit history who can handle the highest credit limits.
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Now, let's take a closer look at the reasons behind this credit card crunch in Russia:
- Economic Woes and Sanctions: The Russian economy's recent struggles, coupled with international sanctions, have likely led to reduced consumer spending and banking uncertainty, negatively impacting the demand for credit cards[4][5].
- Rate Changes: Despite interest rate cuts, the overall economic landscape and confidence might have influenced banks to tread cautiously with their lending decisions[4].
- Stabilization of Credit Card Issuance: After a slump towards the end of 2024, credit card issuance started to find its footing in 2025. However, this recovery could've come at a cost of lower overall numbers, particularly in economically strained regions[2].
- Local Economic Struggles: Certain regions, such as Rostov, Moscow, and others, have seen substantial year-on-year drops in credit card limits and issuance, suggesting tough times at the local level or banks tightening their lending standards[1][5].
- Consumer Spending and Confidence: Sluggish consumer spending, as reflected in reduced traffic at shopping centers, suggests a declining demand for credit services and fewer new credit cards[5]. So there you have it, folks. Factors contributing to the skimpy credit card situation in Russia!
In the financial sector of Russia, businesses are experiencing a significant drop in new credit card issuance due to tight monetary and credit policies enforced by financial regulators. Some regions, including Rostov, Moscow, and others, are particularly hard-hit, with declines in credit card limits and issuance, possibly because of local economic struggles or banks adopting stricter lending standards.
