Russian banks have reduced the approval of applications for unsecured loans to 34.4%

October 23rd. /MEDIA TALK/. On Wednesday, October 23, it became known that in September of this year, Russian banks approved only 34.4% of applications for unsecured loans. We are talking about consumer loans and credit cards, Forbes reported, citing NBKI data.

Thus, banks turn away two thirds of potential customers. The share has decreased significantly since the beginning of this year.

According to the publication, the trend is explained by two main reasons — the high rate of the Central Bank (19%) and stricter regulation of the issuance of such products: the Bank of Russia has several times increased premiums to risk coefficients on consumer loans and credit cards, and also tightened limits on loans to borrowers with a high debt burden. Thus, the regulator tried to cool the market.


Photo: ru.freepik.com

These measures worked — in September, the growth of the banks' consumer loan portfolio slowed to 0.7% against 1.3% a month earlier, to 15.4 trillion rubles. According to experts, financial institutions will continue to reduce the issuance of unsecured loans.

Recall, the day before it was reported that the issuance of credit cards in September became the minimum in the Russian Federation since the beginning of the year. The figure dropped to 1.75 million units.