Posted 13 июля 2021,, 15:15
Published 13 июля 2021,, 15:15
Modified 24 декабря 2022,, 22:37
Updated 24 декабря 2022,, 22:37
In June of this year, banks issued 1.7 million cash loans to individuals, which was a record since 1991, finanz.ru reports, citing data from the United Credit Bureau.
"Compared to May, the issue increased by another 8%, and compared to June last year - by 53%", - the message says.
The unprecedented boom in consumer lending in Russia took place amid impoverishment of the population and heightened inflationary expectations. While the real disposable income of citizens has fallen to a ten-year low, many do not have enough funds to cover the most basic needs.
During the holidays, however, many decided not to deny themselves the pleasure of relaxing at sea. However, the rapid rise in prices for accommodation and travel to the resorts of the Russian South in the conditions of closed borders forced many travelers to visit the bank before the trip in order to properly stock up on cash.
Banks, in turn, decided to build up their loan portfolio in anticipation of an increase in the key rate and a related forecast of an imminent collapse of demand for sharply increased loans.
If we analyze the absolute figures, then in monetary terms, individuals in June accumulated 622.9 billion rubles of cash loans in their wallets. This type of loans accounted for half of all issued loans in June.
Meanwhile, analysts point out that along with the volume of lending, the overdue debt of borrowers is also growing. Not everyone can cope with the return of funds received.
In the first three months of the year, Russians earned 14.3 trillion rubles and spent 14.9 trillion. Banks provided loans worth 1.7 trillion rubles to those who are sorely short of enough to live on. Thus, the debt of individuals to credit institutions has reached an all-time high of 22 trillion rubles. Many citizens have no money for servicing and paying off their debts. According to the Federal Bailiff Service, in the first four months of the year, 3.7 million cases were filed in the country for non-payment of debt. Russians owe banks 482 billion rubles. Thus, overdue debt increased by 28% over the year. At the same time, the number of debtors increased by 1.1 million over the year.
Earlier it was reported that in early July in Russia there was a critical drop in consumer demand: the volume of purchases fell to the indicators of early March. Analysts attribute this to the fact that consumers have used up their last financial reserves, and they have nowhere to get new ones. The inflation, which has accelerated to 6.4%, which has reached record levels over the past five years, has a particularly strong effect on the position of consumers.