Irkutsk
Ulan-Ude

Blagoveshchensk
Chita
Yakutsk

Birobidzhan
Vladivostok
Khabarovsk

Magadan
Yuzhno-Sakhalinsk

Anadyr
Petropavlovsk-
Kamchatsky
Moscow

This text is translated into Russian by google automatic human level neural machine.
EastRussia is not responsible for any mistakes in the translated text. Sorry for the inconvinience.
Please refer to the text in Russian as a source.

Banks in Russia are reluctant to give loans to individuals

Banks in Russia are reluctant to give loans to individuals
Photo: pixabay.com

Russian banks are reluctant to give loans to individuals. In April, a minimum level of approval for loans was recorded. Only people with perfect credit history can get them.

As the Kommersant citing data from the National Bureau of Credit Histories, in April only one in five borrowers received approval. This is the minimum indicator for the history of observations of the bureau - since 2017. The share of mortgage approvals decreased to 55% compared to April last year, as well as this March. Consumer loans receive less than 20% of borrowers.

In the opinion of Gennady Shinin, head of the group for providing services to the financial sector in the CIS countries E&Y, Gennady Shinin, banks in a period of economic instability always tighten requirements for borrowers. Experts do not forecast an increase in the share of approved loan applications in the near future, banks will wait for a full recovery of business activity and household income.

In April, Russia began to issue loans for salaries under 0%. The measures were taken because of the coronavirus pandemic and the worsening economic situation.

September 28: current information on coronavirus in the Far East
Digest of regional events and latest statistics