In the last quarter of the arrears of Russians on credit cards increased by 2.3% and reached 1.02 trillion rubles, the newspaper “Vedomosti” , citing data from the “Tinkoff Bank”. The growth of this segment of the market recorded for the first time since the end of 2014.
At the end of last year the credit card portfolio was on a three-year low, making 998,6 billion. In the first three months of 2017, most of the growth in the credit card market has provided its leaders – “Sberbank” and the “Tinkoff Bank”. They increased the portfolio of 17 billion and 7.4 billion respectively.
A similar trend in the credit card market and noticed in the company Frank Research Group, which, in contrast to the “Tinkoff Bank” also takes into account outstanding debt.
According to her, the portfolio grew by 2.4% – to 1.23 trillion rubles. CEO Frank Research Group Yuri Gribanov says that by the end of this year, the credit card portfolio will rise another 5-10% in the near future will grow all kinds of retail lending.
Analyst of Promsvyazbank Dmitry Monastyrshin says that banks lengthen the time and increase the amount of the credit limit, and the improvement of the conditions driving demand.
The expert expects that loan demand will be supported by improved credit conditions and recovery in consumer spending amid improvement in the economy.
While the debt burden of Russia’s population continues to grow as declining real incomes and falling living standards. In April 2017 the average on the banking loans to the Russians have left every fourth ruble of income.
The population pays the interest, and new loans gets much less. Thus, the credit market of a factor that increases consumer demand and improving the total budget of households is transformed into an inhibitory factor.