The Mortgage Crisis Destroying russia’s Banking System

By the end of 2025, russians had failed to repay to banks 276 billion rubles in mortgage loans and interest within the specified period. Compared to 2024, this represents an increase of 76.6%. As a result, over the period 2023–2025, arrears increased by 180%.

In monetary terms, the leaders in “toxic” mortgages were moscow region (9.7 billion rubles), the city of moscow (7.99 billion), the krasnodar territory (7.75 billion), tyumen (4.8 billion), and st. petersburg (4.8 billion). In terms of growth in mortgage delinquencies, the republic of tyva “wins”– over the 11 months of last year, defaults increased 4.8 times. During that persiod, in the republic of mari el, debts quadrupled, in the temporarily occupied Crimea – they grew 3.7 times, in tyumen region – debts doubled.

By the end of last year, the total volume of problem loans held by russians in the banking system had reached 2.3 trillion rubles. Statistics shows that this figure had grown by 64% between 2023 and 2025.

Experts in russia’s banking sector are pessimistic about the prospects for improving the situation with overdue mortgage loans. The unstable economic situation in the country leaves no chance for recovery. This is evidenced by sales levels in other product groups. In 2025, laptop sales in russia fell by 15-30%. Distributors were quick to point out that russians were adjusting their spending to cover their basic needs. But the situation is no better there. In the first three quarters of last year, sales of butter in the rf fell by 12% in real terms.