Russia has sharply reduced the issuance of new credit cards

Russian banks last month gave 0.43 million new credit cards that 53.2% less compared to the same period last year (in may-2019 is 0.91 million), according to the National Bureau of credit histories.

However, experts say NBCH, relative to April’s increase in the issuance of new credit cards by 13.2% (in April-2020 to 0.38 million units).

“As in all retail lending, in the credit card segment in April—may was marked by a radical reduction of extradition”, — commented on the data, the General Director nbki Alexander Vikulin.

In his words, “against the backdrop of quarantine measures and the economic consequences coronavirus pandemic in the country and the world, banks have become even more tightening their credit policy”.

Earlier it was reported that Russian banks last month issued 0,82 million in loans to buy consumer goods (consumer loans), which is 44.7% lower than a year earlier (in may-2019 — 1.48 million). In this case, noted in national Bureau of credit histories, relatively APR for the reporting period have been recorded growth of consumer loans — 22.4% (in April-2020 — 0,67 million).

Commenting on the findings, the marketing Director of nbki Alexey Volkov noted that “the risk management of banks remains a conservative approach when lending to citizens, in April and may consumer credit was extended only to those whose level of debt and the value personal credit rating (PCR) were at a high level.”

“the Number of times these citizens for loans in April—may 2020 fell by more than 70%. This means that people choose tactics to reduce their debt burden, limit consumption and, consequently, a more cautious attitude to the adoption of debt”, — says the expert.

Recall that the Russian economyICA in February—March 2020 was under the powerful impact of two negative factors — the rapid spread of the pandemic coronavirus infection COVID-19 and its deleterious effect on the global economy and collapse in oil prices. Against this background, the rouble significantly depreciated against the dollar and the Euro. Reacting to the situation, the government and the Bank of Russia adopted several packages of measures to support the economy and citizens.

may 11, Russian President Vladimir Putin announced the end of may 12, a single period of days off, entered March 30, in the fight against COVID-19. He also announced the beginning of implementation of the third package of anti-crisis measures, under which the state, in particular, will increase targeted support for families with children, small businesses, individual entrepreneurs and self-employed. In addition, Putin instructed the government to prepare a national plan for long-term development of the economy, the recovery in employment and incomes.

on 27 may, the Minister of economic development (MED) of the Russian Federation Maxim Reshetnikov said that the total cost of anti-crisis measures to support the Russian economy, aimed at combating the impact of the pandemic coronavirus has reached 3.3 trillion rubles.

on 2 June Prime Minister Mikhail Mishustin presented to the President a national plan for the recovery of the Russian economy in 2020-2021 years, noting in particular that the cost of the plan will be about 5 trillion rubles.

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