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Russians began to take twice as many microloans for treatment

MOSCOW, Jan 24 – PRIME. Russians in 2020 began to take microloans for treatment and education almost twice as often, Rossiyskaya Gazeta reported. It is clarified that personal needs and repairs are the most popular goals for taking a microloan among Russian citizens. At the same time, the share of loans for recreation and the purchase of gifts significantly decreased. Analysts found out what the Russians took out loans for in 2020. Thus, the share of loans taken to solve health problems increased over the year from 5.6 to 10%. The share of microloans for education increased from 2% to 3.8%. These data are cited by experts of the financial platform Webbankir: “On the one hand, health problems have seriously worsened, and most of the people were forced to spend money on paying for medical services and medicines. On the other hand, the transition to distance education has led to a great demand for tutoring services ”- this is how Webbankir CEO Andrey Ponomarev explains the growth of the loan market. It is reported that people turn to microfinance organizations to borrow money for consumer needs (such 39.5%), home renovation (15.3%), large purchases (electronics, etc. – 12.3%). The share of loans for leisure and travel has decreased significantly, from 4.3% the year before last to 2.2% in 2020. In addition, people have become less likely to borrow for refinancing loans (0.9% in 2020 versus 2.5% in 2019). According to experts from the Bank of Russia, this indicates the growth of discipline among the clients of microfinance organizations. According to the Central Bank, in the third quarter of 2020, the microloan portfolio grew by 6 percent compared to the second quarter, to 226 billion rubles. The number of borrowers has almost returned to the level of the beginning of the year, amounting to 11.8 million. It is reported that the average size of a microloan of the “to payroll” type increased from 7.5 to 7.9 thousand rubles, and the size of medium-term consumer microloans increased from 15.2 to 17.7 thousand rubles. The Central Bank draws attention to the decrease in the number of “delinquencies”. At the end of the quarter, the share of overdue debts in the total portfolio of microfinance organizations decreased to 30.7 percent (for loans overdue by 90 days or more). See also: The average size of a loan “to payday” among Russians

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