More than 27% of Credit Bank of Moscow’s corporate loans are now classified as problematic

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Russia’s Credit Bank of Moscow, known domestically as MKB, disclosed that 671 billion rubles, roughly $8 billion at current exchange rates, sat in its problematic loan category as of June 30, 2026. That figure represents more than 27% of the bank’s entire corporate lending book. For context, the broader Russian banking sector’s problematic corporate loan ratio had already reached somewhere between 10.4% and 11% by early 2026. MKB is running at nearly three times that average. What’s driving the pile-up The Central Bank of Russia has kept benchmark interest rates elevated to combat inflation, and that has turned the debt-servicing math ugly for borrowers in capital-intensive industries. Construction companies, metals producers, and coal miners are the primary sources of MKB’s stress. Loan restructuring has become a common workaround across Russian banks, but restructuring also tends to delay rather than eliminate credit losses. Analysts watching the sector have warned that some of the stress is obscured inside restructured facilities, meaning the official problematic loan figures may understate the true picture. MKB’s disclosure arrived on September 10, 2026, as part of the bank’s r...

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