Analysts: Russian banks tightened the issuance of credit cards

Over the year from may 2019 to may 2020 the share of approved applications for credit cards in Russia decreased by 7% and amounted to 31%, RIA “Novosti”.

According to analysts, the credit Bureau, the cause of the reduction in the number of approved applications was as a tightening of banking policy, aimed at keeping the level of risk at an acceptable level, and the decline in demand of Russians on borrowed funds.

overall for may, Russian banks issued 316,7 thousand credit cards. This is 2.1 times less than the year before. Limits on issued cards also declined by 55.4%.

At the same time, analysts assume that in the future the banks will again increase the issue and by early autumn, will generate about 500-600 thousand cards.

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