The share of defaults in the Russian corporate debt market has doubled

In September 2026, 32 issuers failed to fulfill their obligations on corporate bonds and digital financial assets (CFA) against 27 months earlier. The total volume of defaults on bonds amounted to м6.3 billion, in CFA - м0.2 billion. In August, the total volume of defaults reached 4.5 billion. This is reported in the “Review of risks of financial markets” of the Bank of Russia.

For the first three quarters of 2026, the share of defaults in the market amounted to 0.08% against 0.045 percent for the same period last year. “However, at the moment, this indicator is not critical for the bond market and does not carry systemic risks,” the regulator said.

Corporate bonds accounted for 96% of defaults. The main contribution was made by large defaults on the repayment of the obligations of individual issuers, which had previously committed violations on other issues.

The largest issuer that faced difficulties in repaying the debt and declared actual default on all issues was a company from the specialized retail industry. Its securities accounted for about a quarter of the unpaid volume in September. Another 38% were technical defaults on the bonds of individual developers.

The share of new defaults in monetary terms in September was 4%. They affected five issuers, while the remaining cases occurred in companies that had previously failed to meet obligations under other issues.

At the same time, the corporate bond market continued to grow. Over the month, its volume increased by .624 billion, or 1.7%, to .38 trillion. The increase was mainly provided by financial sector companies, including development institutions and other financial institutions.