Russian banks have sharply reduced the volume of credit cards issued

According to the credit history Bureau “Equifax”, in January 2020 540,2 banks have issued thousands of credit cards. This is noticeably less than in January 2019 – then banks issued 692,4 thousand cards. Compared to December 2019 (926,6 thousands pieces) the contrast even more noticeable, but the last month of the year is traditionally more speculative in terms of retail lending.

Photo: iStock the Central Bank said that real bankers would never offer customers

the Total limit on cards issued also declined markedly, follows from the statistics of the “Equifax”. In January 2020, it amounted to 34.6 billion rubles, as against 44.8 billion rubles at the beginning of last year. In December 2019 figure was consistent with the high rate of renditions and reached 62.6 billion rubles.

January is the month with the pronounced seasonal factor in lending: the minimum number of working days compared to other months leads to a lower demand for Bank loans, including credit cards, says the CEO of “Equifax” Oleg Lagutkin.

the issuance of new credit cards will generally fall to the end of the year is a consequence of the correction by the banks to its retail policy

Impact and the measures the Bank of Russia regulatory cooling of the market: in the fourth quarter of last year, after the introduction of the indicator of debt burden, the credit card market sank by more than 10% year-on-year, said Director – head of Bank ratings Agency NKR Mikhail Doronkin.

As people of different countries of the world belong to the credits

So, the Central Bank has obliged banks since October of 2019, with the issuance of consumer credits, more than 10 thousand rubles, count on the debt burden indicator (PDN) of the borrower. The ratio of payments on all loans, including newly issued, the income of the client. Higher it is, the more pressure using coefficiency risk loan will provide the mandatory capital adequacy ratio of the Bank. Although these measures were directed mainly to consumer loans (the most common form of lending), but could not affect the less popular credit cards, says Lagutkin. According to Doronkina, regulatory innovations might lead to lower level of approval credit cards to borrowers with high debt load.

926,6 thousands of credit cards banks issued to Russians in December – traditionally speculative in the retail lending period

In February – March the situation with the dynamics of issued credit cards may well improve compared to January, however, the declining trend of new loans will continue until the end of the year about the extent of the adjustment by banks of their credit policies, he said. We can assume that in the next few months you may experience slow downs with cautious growth in some segments of unsecured lending, adds Lagutkin.

Infographics “RG”/ Alexandr Chistov/ Roman Markelov