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Demand for consumer loans in Russia hits March 2022 high in early June, says survey

Some 12% of respondents reported their wish to get a consumer loan now, according to a survey conducted by Home Credit bank

© Kirill Kukhmar/TASS

MOSCOW, June 9. /TASS/. The demand for consumer loans in Russia has reached its highest level since March 2022, according to a survey conducted by Home Credit bank (obtained by TASS).

"The results of the survey showed that in the first week of June the demand for consumer loans reached its highest level in the spring of 2022. Some 12% of respondents reported their wish to get a consumer loan now. To compare, in the middle of April this indicator equaled 8%," the credit organization said.

The demand for consumer loans was the highest in the group of respondents aged from 25 to 34 (16%).

"We see that as the Russian population gets adjusted to new economic conditions the demand for loans starts to recover gradually. Changes on the side of their supply also facilitate it. As the key rate goes down and loan rates concurrently decrease, they become increasingly available," Home Credit bank analyst Stanislav Duzhinsky said, adding that the risk of debt load growth is small now.

As many as 450 men and 550 women aged from 18 to 55 participated in the opinion survey devoted to demand for consumer loans.

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