Russia: Lending Market Up 46% in 2018

25 January 2019 (09:29)

UrBC, Moscow, January 25, 2019. Russian banks issued 37.41 million loans to their customers in 2018 (total amount: over RUB 8.61 trillion); this exceeded the previous year’s number of loans by 18%, whereas the total loan amount increased by 46% compared with 2017, Prime refers to United Credit History Bureau as reporting.

3.7 million new loans got issued in December 2018 alone (+6%), with the total amount at more than RUB 895.97 billion (+23%).

Credit cards proved the fastest-growing lending market segment: the number of newly issued credit cards rose by 40% against one year earlier, with the overall amount of spending limits up by 63%. More than 12.66 million new cards got issued by Russian banks in 2018 (total spending limit: RUB 908.05 billion). The average spending limit rose by 37% and reached RUB 63,000.

Also, the number of loans issued in cash rose by 19%, with the total loan amount up by 50%. More than 15.65 million cash-based loans got issued by Russian banks last year (total amount: RUB 4.06 trillion); the average loan amount rose by 26% and came to RUB 260,000.

The number of mortgages rose by 35% in 2018 compared with one year earlier; the total mortgage amount rose by 48%. 1.34 million mortgages (total amount: more than RUB 2.74 trillion) got issued last year, with the average mortgage amount up by 10% (RUB 2.05 million).

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