UrBC, Yekaterinburg, December 27, 2019. The Ural Bank for Reconstruction & Development (UBRD) extended the upper limit on the amount of money you can get through a consumer loan: every potential borrower can now apply for as much as RUB 5m, the bank’s press service reports.

According to the UBRD bankers, the average number of loan applications per month rose by over 60% in the second half of 2019 compared with the first half of the year. Now before the recent increase, the UBRD’s upper limit on the consumer loan amount came to RUB 3m.

‘The decision to increase our upper loan limit is a well-grounded one. Firstly, we can see increased demand for loans, as the average number of loan applications per month increased by more than 60% in the second half of the year against the first one. Secondly, based on our stats, the average consumer loan amount has been growing as well: this figure rose by 20% by the end of 2019 compared with the start of the year. This means these were our customers who encouraged us to reconsider our lending terms and make them even more appealing,’ says Head of Consumer Lending Department at the UBRD Lyubov Toropitsina.