The credit card segment in Russia is showing significant growth in August 2025. This trend has been continuing since July. Credit card issuance increased by more than 20% compared to the previous month. It reached the level of December 2024 in both quantitative and monetary terms.
This is due to the unique situation in the market. The fact is that banks can offer credit cards with high rates that remain unchanged, while the cost of funding is gradually decreasing.
According to the United Credit Bureau (BKI), 1.46 million credit cards were issued in August with a total limit of 218.1 billion rubles and an average limit per card of 150 thousand rubles.
At the end of August, the average interest rate on credit cards among major banks ranged from 41.86–50.53% per annum, while deposit rates were at 9.61–15.55% per annum.
Despite the positive trends, experts warn that it is too early to talk about sustainable growth. The average daily issuance of credit cards has not reached the levels of early 2023. Ivan Uklein from Expert RA notes that a sustainable trend towards recovery can be expected in the fourth quarter, when the Bank of Russia's baseline forecast will be implemented. In September, the growth in issuance will likely continue, but will not be as rapid as in August, due to seasonal spending. The annual growth of the credit card portfolio may be up to 10%.
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