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Russians set record for cash loans taken out per year

Since the beginning of the year, Russians have taken out 15.8 mln cash loans, which is 36% more than in the same period last year, the United Credit Bureau revealed

MOSCOW, November 11. /TASS/. Russians took 15.8 mln cash loans during January - October 2021, which is more than for the entire 2020 (14.5 mln loans), according to the data released on Thursday by the United Credit Bureau, which has information on 97% of bank borrowers.

"During 10 months, Russians took out 15.8 mln cash loans, which is 36% more than in the same period last year (11.6 mln loans). This is more than for the entire 2020 (14.5 mln) and even more than for the whole of 2019, when the Russians took a record 15.3 mln loans," the bureau said.

In October, banks provided 1.6 mln cash loans, which is 22% more than a year earlier. According to the bureau, the growth of lending in September-October year-on-year was noted in all 30 regions, leading in terms of the number of cash loans issued in September. The largest growth was recorded in Tatarstan (44%), Irkutsk region (43%), Moscow and Tyumen regions (41% each), Rostov region, Bashkortostan and Moscow (40% each).

The smallest growth was in Altai Region, Nizhny Novgorod and Omsk Regions, Primorsky Region (30% each). "The increase in the key rate also did not reduce the interest of the population in borrowed funds, so we expect that the total number of issued cash loans by the end of the year will approach 20 mln," Artur Aleksandrovich, General Director of the United Credit Bureau said.

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