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Business / Finance

Credit bondage: the Russians are driving themselves in a personal default?

Banki.ru: themes of the day 07.08.2018 at 21:00

Banking and financial news on the website Banki.ru

The Russians borrow more money over longer term. Why banks are willing to lend more unsecured loans and cover the country with a new wave of over-indebtedness?

the Loan for default loan

In the II quarter of 2018 for all ncartoon banking products there has been a noticeable increase in the average amount and average life of the loan. This was reported in the study of BCI Equifax.

During the year the average amount of consumer credit increased from 130 thousand (second quarter 2017) more than a third, up to 180 thousand rubles. The average mortgage loan amount is 2.2 million rubles, having increased by 200 thousand rubles. The average limit on credit cards remained unchanged at 55 thousand rubles. The study also indicated that the average period of the loan increased to 27 months with 24 months of previous year.

the Distribution of clients by number of active Bank loans remains stable. The majority — 58.2 per cent — a one credit, 28.3% of borrowers have two loans, at 10.4% — three.

the study notes a disturbing trend. "Despite the presence of the customers default of a loan, financial institutions continue to issue them new loans: MFI loans, credit cards, consumer loans. The customer at the time the new loan has a current loan with the duration of arrears of 90 days or more). In 2018, most of these renditions have on microfinance organizations", the study says. At the same time in the second quarter continued increase in the number of shares of MFI's-loans and amounted to 10,6%.

loans Reserved for future use

other things being equal at a nominal loan amounts of banks offer higher rates. Therefore, without waiting for growth of personal wealth, borrowers prefer to stock up. Good in itself, consumer lending is now characterized by an increased offer in light of the fact that retail over the past year has again become a full-fledged driver for the bankers, says the Director for Bank ratings "Expert RA" Vladimir Teterin.

According to him, it also contributes to the easing of credit conditions in General and the growth of the average check in particular.

Sberbank said that the significant decline in interest rates and a new approach to pricing, providing the dependence of the rates of the loan are significant reasons for the increase in the average size of the loan. Given the increased level of credit availability, customers are more willing to dare on expensive purchases than in the period of higher rates.

the Acting Director-General of the United credit Bureau Nicholas butchers observes that the growth of consumer credit is due to the segment of cash loans for the sum more than 100 thousand rubles, where the average check is about 330 thousand rubles.

"This is due to rising consumer activity and lower interest rates. Banks more willing to lend to reliable borrowers for large sums of money, while low-income segment of unsecured loans of up to 100 thousand rubles, in contrast, shows a negative trend", — experts say.

the Bank "Russian Standard" has confirmed that also see a trend on the rise in the average amount of consumer credit.

"This growth is largely due to the emergence of a new generation of borrowers: financial savvy and competently handle their funds. Such borrowers are more responsible budget allocation. They are less likely to commit "impulsive" purchases: to replace the spontaneous come pre-planned purchase in larger amounts", — told in the press service of the credit institution.

In the Bank "East", however, believe that a key factor in the growth of average amount has been the development of lending secured by real estate. Such loans have traditionally not only higher amounts but also reduced interest rates. And the difference is always significant. If we remove from the calculation of such loans and consider the classical consumer credit is without collateral, the "East" the average loan amount grew by only 13%.

In Alfa-Bank have noticed the active interest of the population to refinance its current obligations. "Every year, borrowers are becoming more financially literate and understand how to reduce their costs of servicing loans. The average amount of consumer credits of Alfa-Bank is about 400-450 thousand rubles, loans to refinance — 600-700 thousand rubles", — says the head of projects of the "cash Loans" Alfa-Bank Renat Shafiev.

"you Can talk about the implementation of pent-up demand"

Important factor is the increase in the average amount of income of the borrower. So, according to the Bank "Russian Standard" if previously it was equal to 51,5 thousand roubles increased to 55 to 57 thousand rubles.

the average loan is really growing, and this applies to not only consumer credits, said the Deputy Chairman of the Board Loko-Bank Andrey lyushin.

"Apparently, the population feels more confident, especially after trying the new devaluation of the ruble, which occurred in the spring, actually ended with the consolidation of the course in the new range that does not affect the acceleration of inflation. Besides the rate, the Central Bank stopped the decline, and now there is no need to wait, postponing the purchase hoping for a quick and strong decrease the cost of credit. So we can talk about the implementation of pent-up demand amid improving consumer sentiment and growth in real wages," he says.

the Quote "Good borrowers is not enough at all"

the fact that the debt load of Russians continues to grow, should not cause concern in itself, experts say.

In the savings Bank's current level of debt load of the population is considered acceptable and do not currently see any problems.

"Its requirements to the borrowers, the banks do not reduce. Largely because of the policies of the regulator aimed to curb lending to risky borrowers. In particular, since September the Bank of Russia will increase the risk coefficients for unsecured loans. If you look at the level of approval of applications for six months of 2018, it was 46%, whereas a year ago, I was at 42%. The average debt load of Russians will grow, driven by just growth in the average amounts of loans. But by itself, this factor should not be of concern if the economic situation is stable, and the banks will maintain a conservative approach to the assessment of the risk profile of borrowers", — says Nikolay Myasnikov.

Andrey lyushin do not share this optimism: "We are cautious in the estimates of this dynamic, as real incomes grow much more slowly, many signals in the economy, including the value of the average check, indicate the presence of a large number of constraints demand. So the growth of demand for loans without income growth and lower rates even in the medium term to lead to an increasing burden on household budgets, according to the article, debt servicing", — believes the banker.

the risks of growing debt load of the population, of course, remain, because along with double-digit loan growth the population has seen a steady increase in disposable income of borrowers. Vladimir Teterin from "Expert RA" emphasizes that banks should focus on social groups least affected by the stagnation in the economy. It should be understood that these are good borrowers at all just not enough.

Anna PONOMAREVA, Natalia STRELTSOVA, Banki.ru