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Banks cut consumer loans by a quarter in 2020

MOSCOW, 20 Jan – PRIME. Russian banks in the past year issued 14.57 million consumer loans, which is 25.9% less than a year earlier, according to a study by the National Bureau of Credit Histories (NBCH). Banks sharply reduced loan approval “According to 4 thousand lenders transmitting information to National Bureau of Credit Histories (NBCH), in 2020, 14.57 million consumer loans (loans for the purchase of consumer goods) were issued, which is 25.9% less than in 2019 (19.68 million loans), “they calculated analysts. At the same time, 1.47 million consumer loans were issued in December, which is 24.7% less than a year earlier. The issuance of consumer loans in the fourth quarter of last year also showed a negative trend; loans were issued by 24.9% less compared to the same period a year earlier. According to experts, the largest number of consumer loans in 2020 was issued in Moscow (711.2 thousand loans) , Moscow region (632.5 thousand), Krasnodar Territory (553.9 thousand), as well as in Bashkiria (502 thousand loans) and Sverdlovsk region (478.8 thousand loans). European banks may face an increase in overdue loans In addition, analysts have recorded a decrease in the issuance of consumer loans in all constituent entities of the Russian Federation. And the most serious dynamics of reduction in the number of issued consumer loans last year compared to the previous year was demonstrated by the Stavropol Territory (-32.7%), Tyumen (-30.6%) and Rostov (-29.5%) regions, as well as Primorsky ( -29.4%) and Altai (-28.8%) regions. In Moscow and St. Petersburg, the issuance of consumer loans decreased by 21.2% and 24%, respectively. “The issuance of consumer loans in 2020 compared to the previous year decreased by more than a quarter. This indicates that the trend towards banks’ compliance with a conservative approach in retail lending continues,” concluded the NBKI General Director Alexander Vikulin.

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