Sverdlovsk Oblast: Micro-financing Organizations Issue 7.5% More Loans
1 February 2018 (09:34)
UrBC, Yekaterinburg, February 1, 2018. Sverdlovsk Oblast-based micro-financing organizations issued 7.5% more loans to their customers in the last quarter of 2017 than in the third quarter, with the overall amount at RUR 4.098bn, National Credit History Bureau reports.
In Russia on the whole, the amount of such loans went up by 12.6% (up to RUR 164.7bn altogether).
‘Micro-financing organizations’ loan books grew quite slowly in the third quarter of 2017 but quite noticeably in the last quarter of the year. The shortest-term (and therefore the costliest) loans were the fastest-growing category at the end of the year; these are the so-called payday loans. At the same time, consumer lending market expanded on a much slower scale,’ says the Bureau’s Director-General Alexander Vikulin.
In Russia on the whole, the amount of such loans went up by 12.6% (up to RUR 164.7bn altogether).
‘Micro-financing organizations’ loan books grew quite slowly in the third quarter of 2017 but quite noticeably in the last quarter of the year. The shortest-term (and therefore the costliest) loans were the fastest-growing category at the end of the year; these are the so-called payday loans. At the same time, consumer lending market expanded on a much slower scale,’ says the Bureau’s Director-General Alexander Vikulin.
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