Russia’s Lending Market Shrinks 3%

UrBC, Moscow, March 6, 2017. The number of loans issued by Russian banks last year dropped by 3%, whereas the amount of money lent actually rose by 18%, United Credit Bureau’s press service says.

The number of new loans rose by 8% against on year earlier, while the amount of money lent went up by 33%. 1.19m loans (total amount: 121.22bn RUR) were issued by Russian banks in January 2017, compared with 1.10m loans (total amount: 91.08bn RUR) a year earlier. The average loan amount increased from 82,000 RUR to 102,000 RUR.

As for mortgages, their number declined by 18%, whereas the amount of money within decreased by 15%. 22,510 mortgages (total amount: 38.24bn RUR) were issued in January 2017, compared with 27,560 mortgages (total amount: 44.77bn RUR) one year earlier. The average mortgage amount went up from 1.6m RUR to 1.7m RUR.


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