The volume of consumer loans issued has reached its historic peak in Russia in the third quarter of 2018. Thus, during the above-mentioned period Russians took four million loans for the total amount exceeding 729 billion roubles: this figure has increased fivefold, as compared to 2015.
Previously, the peak in consumer loans was observed in the second quarter of 2013 — then the volume of loans made up 581 billion roubles. In the third quarter of 2018 an average loan size in this type of lending broke all records and reached 178 thousand roubles. As compared to the same period in 2017, the growth made up 43 percent.
Experts explain the increase in loan volumes and their average amount with the stabilization of interest rates on retail lending, as well as the fact that a number of major players of the market began to offer lower rates with larger amounts of loans.
Read more about Russian economy.
Author: Anna Dorozhkina