Residents of Novosibirsk demonstrate higher credit ratings compared to the overall Novosibirsk region, according to data from the United Credit Bureau. In April, the average individual credit rating (ICR) of a Russian borrower was 763 points.

The Novosibirsk region did not rank among the top 50 Russian regions for average ICR, with a score of 745 points. To be in the top 50, a region needed at least 759 points, the score achieved by the Smolensk region.

The average ICR of residents in Novosibirsk was 752 points, exceeding the regional average by 7 points. However, this difference wasn’t sufficient to elevate the entire region into the top rankings.

The leading regions in terms of ICR were the Magadan Region (817 points), Moscow (795 points), and the Chuvash Republic (788 points).

Eduard Kolozhvari, Associate Professor at NSEU, suggests the rating reflects the population’s overall financial literacy. He stated that a significant debt burden exists in the region, with people taking out loans without considering their repayment capacity. He also suggested that banks could exercise greater caution in loan approvals.