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Credit cards began to be issued three times less because of quarantine

Credit cards began to be issued three times less because of quarantine
The issuance of credit cards in April decreased by three times. According to the United Credit Bureau (OKB), not only the number of cards issued decreased, but also the limits for borrowers.

According to the OKB, in April credit card issuance decreased by 67% compared with March. Compared to April 2019, the issuance decreased even more significantly - by 73% in terms of quantity, and by 77% in terms of credit limit. In total, in April 2020, 267 thousand credit cards were issued for 19,4 billion rubles.

According to Artur Aleksandrovich, General Director of the Design Bureau, such a decrease appeared against the background of the self-isolation regime. At the same time, the issuance of loans in cash was reduced by only half. The difference is due to the fact that borrowers who receive credit cards are a riskier asset for the bank. In this segment, increased risks were noted back in the second half of 2019, and in order to avoid massive defaults in the future, banks tightened their policy towards borrowers.

According to preliminary estimates, which are available in the OKB, the volume of issuing credit cards in the Khabarovsk Territory has decreased more than the average value among the Far Eastern regions - the decrease was 65%, there were issued 2,9 thousand credit cards in April. In the Primorsky Territory, the volume decreased by 60% - 3,9 thousand cards. The credit limit also decreased in these regions: in the Khabarovsk Territory by 49% (2,6 billion rubles in total), and in Primorsky by 52% (to four billion rubles).
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