Analysts reported a sharp increase in the limit on credit cards in Russia

by time news

The average limit on new credit cards in April was 72.9 thousand rubles, TIme reported, citing data from the National Bureau of Credit Histories. The indicator became the maximum since the beginning of 2019. Compared to March, the limit increased by 5.2%, or by 3.6 thousand rubles, in annual terms – by 12.3%.

According to analysts, credit card limits have been growing since the end of 2020. At the beginning of the coronavirus pandemic, banks tightened their approaches to lending to the population.

The Equifax credit bureau reported that in April the credit card limit increased by 6.7%, or 4.5 thousand rubles, and amounted to 72.5 thousand rubles. According to statistics from the bureau, the growth of the indicator for the month became a record one since the beginning of 2019. At the bureau, he was associated with market volatility.

The United Credit Bureau (OKB) registered an increase in the average limit on cards in April by 3.3%, to 71.4 thousand rubles.

Earlier, the NBCH reported that in April 2021, for the first time in a year, the volume of issuing credit cards decreased. Russian banks issued 1.04 million credit cards in April, which is 5.1% less than in March. On an annualized basis, April increased by 163.9% due to the pandemic and the restrictions imposed in April 2020.

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