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The credit load of Russians reached a record 19,92 trillion rubles
At the end of 2020, the credit load of Russians increased by 13,4% and amounted to 19,92 trillion rubles. This is a record figure, the acceleration of the rate of debt load was observed due to the increased demand for mortgages and microloans.
As they write "News», The research based on the data of the Central Bank, Rosstat and the credit history bureaus was carried out by experts of the ONF. The average size of mortgage loans issued in December amounted to 2,81 million rubles - this is the largest indicator on the housing loan market in Russia. Compared to December 209, it increased by 11,4%.
On the contrary, Russians began to take out consumer loans less frequently. Compared to November 2020, in December the growth rate slowed down by 4%. However, in the same period of 2019, lending rates in this segment were almost one third lower.
The growth of mortgage lending and the average amount of home loans was influenced primarily by preferential programs. With a decrease in income, these debts will continue to strongly affect the debt burden of Russians.
Russians' interest in microcrediting is growing in April 2020. This, experts of the ONF note, may indicate a deterioration in the financial situation. In the future, the study notes, a surge in out-of-court bankruptcy and citizens' appeals to the illegal sector is possible.
At the same time, as noted by the head of the State Duma Committee on the Financial Market Anatoly Aksakov, debt load in Russia is much lower than in many developed countries. Accounts payable of Russians is about 20% of GDP, while in a number of countries for mortgage lending, this figure is about 50% of GDP. However, he admitted that Russians often take loans not because they live well, but vice versa. Therefore, it can carry great risks.