Russians set record for cash loans taken each year – Business & Economy
MOSCOW, November 11. / TASS /. The Russians took out 15.8 million cash loans between January and October 2021, which is more than for all of 2020 (14.5 million loans), according to data released Thursday by the United Credit Bureau, which has information on 97% of bank borrowers.
“For 10 months, the Russians took 15.8 million cash loans, 36% more than the same period last year (11.6 million loans). whole of 2020 (14.5 million) and even more than for all of 2019, when the Russians took out a record 15.3 million loans, “the office said.
In October, banks made 1.6 million cash loans, 22% more than a year earlier. According to the bureau, the growth in loans in September-October year-over-year was noted in all 30 regions, leading in terms of the number of cash loans issued in September. The strongest growth was recorded in Tatarstan (44%), Irkutsk region (43%), Moscow and Tyumen regions (41% each), Rostov region, Bashkortostan and Moscow (40% each).
The weakest growth was recorded in the Altai region, Nizhny Novgorod and Omsk regions, Primorsky region (30% each). “The hike in the policy rate has also not reduced people’s interest in borrowed funds, so we expect the total number of cash loans issued by the end of the year to approach 20 million. “, Artur Aleksandrovich, managing director of the United Credit Bureau said.