According to the latest findings by analytics and decision management technology provider FICO and Russia’s leading credit bureau National Bureau of Credit Histories (NBKI), Russian borrowers’ credit repayments have fallen in the third quarter, putting the FICO Credit Health Index at the lowest point since October 2010.

The FICO Credit Health Index measures the overall credit health of the country, based on the percentage of consumer loans and credit cards reported to NBKI that are delinquent by more than 60 days.

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This was the second drop this year. The FICO Credit Health Index fell two points from last quarter and represents a bad rate of 7.76% in the October 2012 reading.

All regions for October 2012 have shown a drop in their index since January 2012. The biggest drop occurred in Dalnevostochny.

In October 2009 the "bad rate" was 11.28%, but the index steadily improved until January 2012, when just 7.05% of Russian credit accounts were delinquent.

According to NBKI, banks’ and financial organisations’ credit portfolios, however, grew by 25% during the first half of 2012.

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Alexander Vikulin, CEO of NBKI, said, "Despite the drop in the third quarter, the FICO Credit Health Index still reflects relatively high quality of credit behavior. More borrowers are showing short-term delinquencies in their credit obligations, but the overall quality of credit portfolios is strong."

FICO and NBKI share the FICO Credit Health Index data with Russian lenders with the aim of improving their understanding of the market, and extend credit to consumers safely.