The demand of the Russians on the loans continues to grow: in August, their debt to banks rose the most since the spring of 2014, and on ruble loans reached a historic high, according to “the Monitoring of the economic situation in Russia,” Russian Academy of national economy and public administration (Ranepa).

Total debt of the population for Bank loans as of September 1 stood at 11.9 trillion. The growth of credit debt is due to the extension of new credit. So, for the first seven months of this year banks issued 23% more new loans than in the same period of 2016.

The fastest growing consumer lending in poor regions. Thus the local population tries to compensate for falling income, write “Vedomosti” , citing data from experts. According to them, the people have exhausted savings, tired of saving and trying to maintain a certain level of consumption.

According to experts, this situation creates additional risks. A growing number of failures of banks to borrowers. In the result, the latter are forced to seek assistance to microfinance institutions (MFIs). This year the market MFIs will grow from 186 billion to 242 billion rubles, said in the study one of these organizations.

Previously, analysts pointed out that due to loans in Russia increased consumption. The experts advised banks to focus on more affluent and less risky borrowers. It was also noted that the growing demand of Russians for lending intensified fraudsters. New and one of the most common methods of fraud became “the loan after the transfer of the initial contribution.”

The Russians compensate for the drop in income new loans 11.10.2017

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