UBRD: Demand for Consumer Loans Up 14%

3 October 2019 (09:16)

UrBC, Yekaterinburg, October 3, 2019. Cash loans remain the most frequently applied-for loan type in the Ural Bank for Reconstruction & Development’s consumer lending segment, the bank’s press service reports.

According to the UBRD, consumer loans amounted to 46% of loans issued by the bank as of September 1, 2019; credit cards amounted to 37.7% of newly issued loans. In monetary terms, cash loans and credit cards make up, respectively, 57% and 10.3% of all the loans.

The demand for consumer loans is still on the rise, going up by 14% in January-August 2019 against one year earlier.

‘While credit cards were by far the most popular product last year, cash loans still make up a large share of the UBRD’s loan book in terms of both number and loan amount. The reasons behind this are simple: the mechanics of paying back a loan are much easier and clearer for the borrowers,’ says Retail Sales Development Director at the UBRD Denis Babushkin.

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