Early in the third quarter, banks continued to increase lending to the population by giving them cash loans for 409,2 billion rubles. the cash loans fell markedly. Experts expect the positive dynamics and predict that full recovery of this segment could occur as early as 2021.In July, Russian banks issued 1.2 million cash loans in 409,2 billion rubles In monetary terms, the increase in month-to-month was 10%, but year — on-year decline of 2%, in quantitative terms, an increase of 11% compared to June but a drop of 17% in annual terms. These data lead at United credit Bureau (OKB features including data Bank). The average bill in July year-on-year rose by 19% to 333,1 thousand RUB, the Average full cost of credit was a record low in July, dropping to 16.1% per annum. “Banks now lend mainly to the most reliable borrowers with high individual credit rating, but for higher amounts, which allows them to lower the rates,”— says the General Director of OKB, Artur Alexandrovich.The population has the opportunity to implement deferred during the period of isolation, the demand, and not only to buy more expensive products than during the isolation, but also to organize, for example, release, explain the growth of lending cash to bankers. “At the moment, the holiday season is followed by the phase of business activity, and we hope to see the traditional increase in demand for lending,”— noted in the savings Bank. Now there are active restoration of demand to the values before the pandemic, said the head of Department “Consumer lending” VTB Eugene Blaginin. According to him, in the fourth quarter the growth of lending cash will continue, including in the seasonal factors. The growth of the average check said including that many Russians returned to their previous level of solvency, believe in Bank “Russian standard”. “The purpose of receiving cash loans for many years is quite fundamental (basic is credit repair, travel, purchase or repair a car), it was noted in HKF-Bank.— Sustainable issuance of non-earmarked cash loans also reflect positive consumer sentiment, which prevailed this summer.”The recession will affect and unsecured consumer loans, our assessment is that this year it could be minus 5%. last year, an increase of unsecured loans was 21% of experts expect the further smooth growth of the issuance of a cash loan, including by lowering rates. Since the second half of the third quarter of 2020 in the interest of banks to increase lending to cash will increase, Fitch analyst Anton Lopatin. Including because the Central Bank has announced relaxations in this segment. Earlier in August, the regulator announced reducingand allowances for risk coefficients for unsecured retail loans from September 1, 2020. In this case, the controller “softens capital requirements for banks could with a big appetite to increase lending,” says Mr Durant. Cash loans — important and necessary for the banks segment, it will continue to grow gradually, but full recovery may 2021, says CEO Frank RG Yuri Gribanov. The situation for the banking community becomes more certain. “It is now clear the depth of challenges of a pandemic: banks understand the probability of loss of work or reduction of incomes of Russians working in different industries, he says. Those sectors where the crisis has left scorched earth, banks are happy to continue to lend”. The banks are still unlikely to want to actively lend to borrowers engaged in the field of tourism and others most affected by COVID-19 industries, the expert concludes.Olga Cherenkova
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