Trends in the credit consumer cooperatives market in 20231

The volume of loans issued by CCPs has been decreasing since the second half of 2022 and in Q3 2023 it increased by 53%:

  • The market dynamics was influenced by both seasonal component (reduced activity at the beginning of the year) and and adaptation to the requirements for the II quarter of 2023, which came into force in the working with maternity (family) capital (MCK)  (a list of CCPs that meet the requirements for working with MCK has been published on the website of the Bank of Russia);
  • in Q3 Q3 2023 issuances increased by 53% -in including deferred demand for mortgage loans, turnover increased at 364 CCPs (they accounted for 74% of issuances).

In Q3 2023 Q3 2023 activity in the PDA market

The number of active loan agreements has been decreasing since the beginning of 2023 and the average outstanding balance of loans has been increasing – from 144 thousand rubles in Q1 to 164 thousand rubles in Q3 2023 

Average indebtedness on loans is growing, the number of active contracts is decreasing

1 The material was prepared based on supervisory reporting data and survey of 115 credit consumer cooperatives (CCPs) and 128 agricultural CCPs (SCPCs), conducted in August 2023 year. The survey s shares are 66% of the total CPC portfolio, 87% of the total SCPC portfolio.

Comparison: dynamics of the main indicators of agricultural credit consumer cooperatives.

In contrast to the segment of CPCs (where the reduction in issuance began as early as Q4 of last year), the issuance of SCPCs began to decline only from the beginning of 2023 year: for Q1 2023, the volume of loans issued decreased by 15.7% by the previous quarter, for Q2 2023 – by 41.3% by Q1 2023 year. In Q3 Q3 companies issued RUB 3.0 billion (by 38% less than in the same period of 2022 year*). The average loan amount disbursed by CCPCs in Q3 2023 decreased to 173.1 thousand rubles compared to 244.2 thousand rubles at the beginning of 2023 

SKPK’s porftel in 2023 year holds steady

* With taking into account the exclusion from calculation of data of a large market participant due to the ongoing verification of the correctness of the presented indicators.

The PDA market continues to grow in concentration while maintaining the overall scale of activity:

  • Small and inactive companies and their shareholders are leaving the market: the number of market participants and the number of shareholders for the period from September 30, 2022 to September 30, 2023 decreased by 7.7% and 7.9% respectively, while the loan portfolio of PPCs increased by 2.1%
  • market concentration (partial redistribution of borrowers from smaller participants is possible) – the portfolio of the top 50 CCPs grew by 2.6% over the year, with such CCPs accounting for 60% of the total market portfolio;
  • The share of shareholders of CCPs, who have taken out a loan on 30.09.2023, is less than half – 37%  (a year earlier – about 40%).

Dynamics of the number of operating cooperatives and market concentration

Dynamics of activity indicators in the PDA market

Comparison: concentration in the SCPC market is higher and has recently changed little, with the share of shareholders who have taken out a loan remaining at 30% throughout the year.

Dynamics of the number of operating CCPCs and market concentration

Dynamics of activity indicators on the SKPC market

New borrowers continue to enter the market: in two years, the share of PDA borrowers who had not previously taken out loans rose from 39% to 46%


2023 year

2021 year

The share of regular borrowers in SCPC for the period from 06/30/2022 to 06/30/2023 was 82%.

CPC loan portfolio quality

For 2022 year, overdue debt (NPL 90+) in CPC loan portfolio increased by 3.2pc, to 19.2%, in the current year the portfolio quality slightly improved – the share of overdue debt over 90 days decreased to 17.7% of the portfolio as of 30.09.2023, but still remains above the level of the beginning of 2022 

The share of NPL 90+ delinquencies in CCP’s loan portfolio

Borrower solvency analysis methods used by CCPs

The SCPC segment has a delinquency rate that is three times lower than that of CCPs

Borrowers of CCPCs are characterized by better payment discipline. To assess the solvency of CCPs, they use slightly different methods than CCPs: the share of CCPs making inquiries from the borrower’s place of work is by 11 p.p. higher than that of CCPs, while the share of those checking credit history with BCIs is lower by 64 p.p., the share of those applying questionnaires – by 16 percentage points.

The share of NPL 90+ arrears in SCPC’s loan portfolio

Borrower solvency analysis methods used by SKPC

CFC loan products: the share of consumer loan agreements grew by 4 p.p. over the year (to 72%)

In the first half of 2023, the share of consumer loan agreements increased by 4 p.p. (

In the first half of 2023, the share of mortgage loans decreased significantly from 68% a year earlier to 39.5% in the structure of loan agreements executed during the period (among the surveyed CCPs)

Median values of interest rates were: for consumer loans – 22% per annum, for mortgage loans – 17% per annum, for automobile and pension loans – 21% per annum, for entrepreneurial loans – 19%.

CFC loan structure in the first half of 2023 year (by volume)

The structure of loans issued by CCPs in the first half of 2023 year (by number)

The average loan amount disbursed increased over the year for all products offered, except pension and entrepreneurial loans.

The average amount of consumer loans and auto loans increased by about 40% over the year, while mortgage loans increased by 11%

Comparison: in the SCPC segment, nearly 2/3 of loans disbursed in the first half of 2023 (by number) were consumer loans, with entrepreneurial loans -3/4 of disbursements dominating by volume.

Structure of SCPC loans disbursed in the first half of 2023 year (by volume)

Structure of SCPC loans disbursed in the first half of 2023 year (by number)

In issuing entrepreneurial loans by CCPCs, state support funds may be used to expand the activities of agricultural producers (various regional state agricultural development programs) or private subsidiary farms.

The CCPC shareholder profile does not change significantly:

  • the main share is women (63% in the first half of 2023 year, in 2021 – 67%), the share of male shareholders – 37% (in 2021 – 33%);
  • the average age of the shareholder CCP has slightly decreased (the share of pensioners among the shareholders CCP also decreased – from 42 to 39.7%).

The proportion of CPC members over 45 years of age decreased from 60 to 55%

2023 year

2021 year

The share of CCPC members older than 45 years is 64%  (55% for CCPCs and 55% for young people (up to 30 years) is twice lower than for CCPCs  (7 and 13% respectively). The shares of working citizens and pensioners in CCPs and SCPCs are comparable (about 51% and 37-40% respectively), while among SCPC shareholders directly employed in about 40% of employees are employed in agriculture, about 10% each are employed in the service sector, as well as in education and science (another 40% are employed in other sectors of the economy).

Portfolio and amount of funds raised

The quarterly amount of funds raised during 2022 – first half of 2023 has been gradually decreasing, while the portfolio of raised funds CCPs for the same period tends to grow.

The portfolio of attracted funds has been gradually increasing over five quarters – up to 45.2 billion rubles as of 30.09.2023 (+10.6% compared to the figure as of 30.09.2022)

The structure of attracted funds of CCP for the first half of 2023 year from FL and IE (CCP members): 52.6% are long-term borrowed funds

The structure of attracted funds of CCP for the first half of 2023 year from persons, who are not members – persons, who are not members of CCP, provide funds to cooperatives for shorter term. Among the resources attracted in the first half of the year 2023, 45% were provided for a period of up to six months, and another 19% for a period of 6 to 12 months

The structure of funds attracted by CCPs from individuals for the first half of 2023 year by average amount attracted

Plans for the development of activities

The majority of cooperatives, as and a year earlier, plan to work on already formed business processes and do not intend to develop new areas of activity (68%). A number of CCPs remained interested in increasing the number of units in their region (19%), while the idea of expanding activities outside the main region of presence lost its relevance (the share of such CCPs for 2 years decreased almost in 10 times, from 20 to 3%). Among the surveyed CCPs 22% of cooperatives for the period from 30.06.2022 to 30.06.2023 closed (reduced) a part of separate subdivisions.

The share of CCPs planning to expand the number of loan programs changed insignificantly and amounted to about 55%, its stable high value (in 2021 year: 49%) may indicate slow dynamics of real introduction of new loan programs in cooperatives’ activities.

The share of cooperatives inclined to continue operating without significant changes

is growing

Some CCPs report that further development of their activities could be related to provision of consulting services to clients (63% of respondents), issuance of payment cards and possibility to accept payment for housing and utilities services (by 34%), availability of their own network or access to partner network of ATMs (30%), offering investment products (23%).

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Last updated page: 12/28/2023