MOSCOW, October 29. /TASS/. As many as 1.1 mln new credit cards totally worth 82 bln rubles ($1.1 bln) were opened in Russia in September 2021, an increase by 26% and by 28% compared with the same period last year, respectively, according to a study by the Equifax credit reference agency (obtained by TASS).
In 2019, banks extended 856,000 less credit cards, while the total amount equaled 57.6 bln rubles, down by 44% compared with current figures, the document said.
"We evidence a certain growth of the segment of credit cards in the overall mass of products extended to borrowers due to promotion of this type of lending," Director General of the agency Oleg Lagutkin was quoted as saying.
The portfolio of credit cards soared to record 1.1 trillion rubles ($15 bln) last month, up by 23% compared with 2020, and by 33% compared to 2019.
Considering the necessity to reduce cash payments amid the pandemic, Lagutkin expects the extension of credit cards to continue rising in coming 12 months. "We project the portfolio in this segment to total 1.5 trillion rubles ($21 bln) by the end of 2022," he said.