Russian banks will lend citizens 10 trillion rubles by the end of 2022. Such an estimate was given by VTB Bank that in July-December banks will lend one and a half times more than in January-June, transmits TASS.
“At the end of the year, the commercial activity of the population is steadily increasing. Now lending volume is back to last year’s levels. By the end of the year, the public’s loan demand will break a record. Its volumes in the second half of the year will be one and a half times that of the first half. In total, according to the results of the year, banks will lend the Russians 10 trillion rubles,” he said.
As of January 1, 2023, the Central Bank will begin It applies macroprudential limits (MPL) that will allow it to limit its loan issuance to certain parameters. The measure is designed to contain the level of lending amid growth in unsecured banking retail. The initiative was discussed in 2021, when the Central Bank received the right to set LPL and plans to impose limits from July 1, but postponed innovations due to the crisis.
“This, on the one hand, contributes to the excessive increase in the debt burden of citizens, on the other hand, may adversely affect the structural transformation of the Russian economy,” the press service of the Central Bank said.