banks have increased the issuance of consumer loans secured by cars – Kommersant
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At the end of 2023, Russian banks began to more actively give Russians consumer loans in cash secured by cars, reports RBC with reference to data from the National Bureau of Credit Histories (NBKI). In December, citizens received 10.9 thousand consumer loans secured by cars worth 14.2 billion rubles. Compared to November, the volume of issuance of these loans increased by 29.1%, reaching a maximum since the beginning of 2023.
According to NBKI calculations, the share of loans secured by cars in the total volume of approved consumer loans increased to 6.8%. In December, the share of such loans amounted to 2.3%, decreasing compared to November. Secured loans accounted for less than 2% of the total number of consumer loan agreements concluded in December 2023.
The Central Bank (CB) stated that they “do not yet see the need” to limit the issuance of consumer loans secured by property, but are monitoring the situation. “The debt on such loans in November 2023 increased by 21 billion rubles. The share of issuing such loans is still small, up to 3% of cash loans,” said a representative of the Central Bank, clarifying that there is no data for December yet.
On January 21, new rules for calculating the total cost of the loan (FLC) came into force – now it will include all additional costs that the borrower incurs when receiving funds, affecting their issuance and cost. What additional services and conditions affect the loan will be determined by the Central Bank. The regulator may force the bank to recalculate the PSC.
Details – in the material “Kommersant” “The Central Bank is overestimating loans”.
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