The issuance of loans to Russians has grown by 19.6% since the beginning of the second half of 2021. The strongest increase in demand was for unsecured loans, from July to mid-September they were issued by 36% more than in the same period in 2021, said Oleg Lagutkin, general director of BKI Equifax. A similar trend was noted by the National Bureau of Credit Histories. The number of applications for loans in July and August increased by 33.6%, mainly due to lower demand amid the pandemic last year, said Alexey Volkov, NBKI’s marketing director.
The growth of loans issued to the population will continue, despite the restrictions imposed by the Central Bank, and by the end of the year it will reach at least 20%, Oleg Lagutkin is sure. In his opinion, in the context of a slight increase in real disposable income of the population and a high level of inflation, borrowers will give preference to their own consumption, rather than debt servicing.
The largest banks confirmed the growth in Russian demand for loans in the second half of 2021. Issues especially increased for unsecured loans. The main reasons for this increase are the economic recovery after the crisis, the deferred demand formed against the background of the pandemic, low interest rates on loans and inflated inflationary expectations, said Dmitry Babin, an expert at BCS World of Investments.
Read more in the exclusive material from Izvestia:
“Careless Loans: Banks Sharply Increased Lending”