05.09.2023, 14:46
Russians demonstrate high responsibility when paying off debts
Source: OREANDA-NEWS
OREANDA-NEWS This year, Russia has seen a record increase in consumer activity of the population, the VTB press service told Izvestia. At the same time, against the background of an increase in lending, Russians demonstrate high responsibility when paying off their obligations, the financial institution added.
"According to the results of seven months of the year, individuals received over 1.4 trillion rubles in our bank — this is more than 1.5 times higher than the result for January–July 2022. The demand driver was the mortgage. High customer demand provided significant deferred demand, which was formed in the market last year. In August, we recorded a continuation of the trend," they said.
VTB stressed that the situation for the financial system is stable, there are no signs of "overheating" of the market.
"Even in case of problems with servicing loans, banks are ready to apply a wide "pool" of customer support programs that proved themselves during the pandemic," the financial organization explained.
According to the bank, the further dynamics of demand for retail loans in the market will be influenced by the effect of the recent increase in the key rate by the Central Bank (CB) of the Russian Federation and the measures of the regulator to "cool" the market.
In turn, the director of the self-regulatory organization "National Association of Professional Collection Agencies" (SRO "NAPKA") Boris Voronin also called the situation stable.
"We have been hearing about the credit bubble from experts of various levels for many years. However, from the point of view of how the population copes with its payment burden, the situation looks quite stable. After all, it is determined not only by the "load", but also by the size of nominal incomes," he said.
According to him, there are 1.33 problem loans per debtor in the country.
"In practice, this number of debt obligations turns out to be quite acceptable, and we can say that with the observance of financial discipline in the vast majority of cases, the client can cope and repay the debt without using extreme instruments, in the form of bankruptcy," Voronin said.
He also drew attention to the fact that the Central Bank regulates conditions in consumer lending, and specifically in terms of borrowers with low incomes, which also reduces delinquency.
"According to the results of seven months of the year, individuals received over 1.4 trillion rubles in our bank — this is more than 1.5 times higher than the result for January–July 2022. The demand driver was the mortgage. High customer demand provided significant deferred demand, which was formed in the market last year. In August, we recorded a continuation of the trend," they said.
VTB stressed that the situation for the financial system is stable, there are no signs of "overheating" of the market.
"Even in case of problems with servicing loans, banks are ready to apply a wide "pool" of customer support programs that proved themselves during the pandemic," the financial organization explained.
According to the bank, the further dynamics of demand for retail loans in the market will be influenced by the effect of the recent increase in the key rate by the Central Bank (CB) of the Russian Federation and the measures of the regulator to "cool" the market.
In turn, the director of the self-regulatory organization "National Association of Professional Collection Agencies" (SRO "NAPKA") Boris Voronin also called the situation stable.
"We have been hearing about the credit bubble from experts of various levels for many years. However, from the point of view of how the population copes with its payment burden, the situation looks quite stable. After all, it is determined not only by the "load", but also by the size of nominal incomes," he said.
According to him, there are 1.33 problem loans per debtor in the country.
"In practice, this number of debt obligations turns out to be quite acceptable, and we can say that with the observance of financial discipline in the vast majority of cases, the client can cope and repay the debt without using extreme instruments, in the form of bankruptcy," Voronin said.
He also drew attention to the fact that the Central Bank regulates conditions in consumer lending, and specifically in terms of borrowers with low incomes, which also reduces delinquency.
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