Sverdlovsk Region: Credit Limit Nears RUB 55,000

26 September 2019 (09:10)

UrBC, Yekaterinburg, September 26, 2019. The average credit limit on credit cards issued by Sverdlovsk Region’s banks between January and August 2019 rose by 6.7% against one year earlier and reached RUB 54,796, the National Credit History Bureau’s press service reports.

‘The credit card segment is still the most popular and fastest-growing one on the retail lending market, primarily because of the convenience and technological proficiency of the service. Unlike consumer loans, credit cards are easier to risk-manage for the banks thanks to the credit limit option; the borrowing parties, in their turn, can enjoy the benefits of a grace period, cashback options, and so on. The fact that overdue debt on credit cards has been going down lately is another factor: banks can now afford to increase their credit card cash advance limits,’ says the bureau’s Director-General Alexander Vikulin.

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