Demand for consumer loans increased after the Central Bank’s unplanned interest rate hike. reported “News”.
According to the publication, lending rates at large banks increased by an average of 20-50%. According to market participants, these dynamics are explained by customers’ willingness to take out large loans at old interest rates. Experts believe that the increased interest in loans, while contributing to economic growth, also poses the risk of creating an excessive debt burden on the population. According to them, this may also affect the stability of the financial sector.
According to Izvestia, in the first week after August 15, the volume of loans granted in Promsvyazbank based on the applications approved earlier increased by 70 percent compared to the first half of the month, while the number of new loan applications increased by 10 percent. As stated in the press service of the financial institution, the demand for loans in PSB has returned to its former level.
The volume and number of illegitimate loans granted at Post Bank increased 1.5 times compared to June, while the number of loan applications increased by 30% in just one week. In the period from 15 to 28 August, VTB gave 11% more loans than in the first weeks of the month. The bank’s press service noted that the amount of funds issued increased by 15%. The agency expects the consumer loan market to continue to grow this year, but it is expected to cool due to possible new regulatory requirements.
Prior to that, Central Bank Deputy Governor Alexei Zabotkin declarationThat the Central Bank of the Russian Federation does not exclude the increase in the key rate at the next meeting of the Board of Directors on September 15.
In August, the Central Bank had already increased the interest rate from 8% to 12% in the face of rising inflation. Some experts expect more rate hikes this fall. Annual inflation in Russia rose to 4.3% in July, after 3.58% in June. However, the figure is still marginally above the CBR’s 4% target.
Former Chamber of Commerce and Industry suggested Greatly reduce the maximum property tax rate.