Sverdlovsk Region: 8.4% of Car Loans Remain Unpaid

UrBC, Yekaterinburg, November 30, 2018. The share of overdue payments (no payments for thirty or more days past the payment date) on car loans came to 8.4% of Sverdlovsk Region’s respective market in the third quarter of 2018, down 0.4% on one year earlier, when the figure stood at 8.8%, the National Credit History Bureau refers to its research findings as indicating.

In Russia on the whole, the share of overdue car loan repayments came to 8% in the third quarter of the year, down 1.5% on a year earlier, when the figure stood at 9.5%.

According to the Bureau’s Director-General Alexander Vikulin, the car loan market’s bad debt problem grew less acute and started to even out in 2017 and 2018. In many respects, this has to do with the banks’ risk management experts’ doing their job more efficiently as of late. Creditors pay close attention to both the quality of new loans and to their existing borrowers’ risk profiles.

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