The Russians took credit for 15 trillion rubles


Photo: Maksim Blinov / RIA Novosti

The level of debt of Russians on the consumer credits in 2018 hit a record high since 2013. Such data are published by the Central Bank in the review of the development of the Russian banking sector.

Debts of Russians for last year increased by 22.8 per cent. In 2017, the same figure grew by 13.2 percent. The total debt of citizens at nominal value at the moment is 14.9 trillion rubles. Last time such volume of debts of physical persons reached pre-crisis in 2013, then the sum of all of the loans amounted to 9.7 trillion rubles, which is 30 percent higher than in 2012.

Annual report for certain divisions of the market is not yet available. Judging by the report in 11 months, most of the debt, as noted by RBC, is the loan portfolio under the mortgage (a 6.53 trillion rubles on 1 December) and unsecured consumer loans (7.3 trillion for 1 December).

“The acceleration of lending to individuals occurs in conditions of gradual transition of households from savings behavior to increase consumption,” the report says CB. The growth of the credit market provided lower interest rates during the year: year-end rate on ruble loans to individuals for a period of over a year was 12.4 percent per annum.

In December 2018 mortgage regulator “House.Russia” reported that the Russians in 10 months of 2018 was given a mortgage for 2.7 trillion rubles. This is the maximum value for all history of existence of the Russian mortgage market. The average rate on mortgages from January to November amounted to 9.55 percent.

Video, photo All from Russia.


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