Restore the issuance of credit cards is much slower than in other segments, such as consumer lending. The change in dynamics did not happen even against the background of recovery of the banks. Cards remain to be the most risky product, they are stringent requirements on the borrower, bankers say. Besides, experts add, the credit card could lose the appeal with the reduction in loyalty programs.According to United credit Bureau (OKB, the only credit Bureau possessing data Bank), in June banks issued 441 thousand credit cards, which is 50% lower than last year. The total approved limit amounted to 30.6 billion rubles, which is 58% lower than last year. However, the positive monthly dynamics after a sharp decline in April (70%) segment is gradually recovering. In June it was issued to 77 thousand credit cards more than in may, and 140 thousand cards more than in April. But the pace of recovery lagged behind the momentum for cash loans. The situation is different banks have different. So, Raiffeisenbank increased four times compared to may, in HCF — 1.5 times, and in Tinkoff Bank the results only 15% higher than the may figure. As noted in VTB, “the growth is due to the opening of offices, increase clientpolicy, pent-up demand” (see “Kommersant” on 15 June).At the same time bankers are quite demanding with regard to approval of new loans, says the Director of Department of card products HCF-Bank Yury Koptjaev. Since the beginning of summer, banks began to relax the scoring models, which were increased in the midst of a pandemic, and liberalized lending policies, but to a greater extent influenced increase of the level of approval for retail loans.Credit cards are for banks the greatest potential risk in terms of economic instability, the Vice-President of “Renaissance Credit” Gregory Shabashkevich.An additional impact on the credit card segment has been affected by the deterioration of the loan portfolio in the second half of 2019, which is before “coronaries” has led to a noticeable reduction of their issuance, said the General Director of OKB, Artur Alexandrovich. Recovery can be expected only with the advent of predictability about the prospects for final victory over the pandemic, says a senior loan officer of Moody’s investors service Olga Ulyanova: “Since a credit card is a product that is permanently bound to the client, banks, before you increase the sale of this product, it is necessary to comprehensively study the stability of the financial condition of the borrower taking into account the fundamental changes of recent months.” Especially that “the situation with the income of individuals continues to be volatile,” adds MS Ulyanova.Less inter��NYM product credit card was the and after the payment system has reduced interchange fees (see “Kommersant” on March 30), said S&P analyst Roman Rybalkin. The lower the Commission the less banks are willing to offer cash back and bonuses. Earlier banks actively issued credit cards, including relying on high transaction customer activity by stimulating its various bonuses loyalty programs. Now, the expert said, banks are not willing to offer bonuses at the same level.Olga Cherenkova
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