Almost 18% of Russian consumers surveyed by the Credit Assistant service said that they allocate more than half of their monthly income to repaying their loans. Forbes.
According to a survey conducted in October, 42% of participants spend 10-30% and 24-30-50% of their income on payments. Only 12% of the participants allocate less than 10% budget for this expense item. At the same time, 56% of Russians have one loan, 28% have two loans, 8% have three or more loans. Previously, only 35% of respondents in August reported a loan.
“The situation with the credit burden is deteriorating,” says Valery Piven, head of financial institution ratings group ACRA. “While the rate of citizens who invested more than 50 percent of their income in service loans was 16 percent in August, this rate increased to 18 percent in October.”
Experts explain the boom in consumer loans with the desire of citizens to take advantage of current conditions before banks tighten their conditions. According to the Central Bank of the Russian Federation, in the January-August period, the mortgage portfolio increased by 16% to 16.4 trillion rubles, and unsecured loans increased by 12% to 13.4 trillion rubles.
Expert RA General Director Yuri Belikov believes that the scale of lending is eroding the accumulated debts, but as the market cools and the loans already issued mature, defaults by borrowers will become more and more noticeable.
Before that Bank of Russia was recorded deterioration of mortgage lending standards.
Russians before warned About tightening mortgage rules.
Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.