Issuance of car loans in Russia has grown to a maximum since the beginning of 2022 – Kommersant
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In July, 86.6 thousand car loans were issued in Russia, which is 14.8% more than in June (75.4 thousand). This was the highest level since the beginning of 2022, reported National Bureau of Credit Histories (NBCH).
Year-on-year, the number of car loans increased by 81.6% (in July 2022, 47.7 thousand were issued). The NBKI explained this growth with “a radical drop in the issuance of car loans in the spring of last year, followed by its recovery.”
According to the bureau, last month most car loans were issued in Moscow (5.37 thousand), Moscow region (4.96 thousand), St. Petersburg (4.22 thousand), Tatarstan (4.05 thousand) and Krasnodar Territory (3.73 thousand).
The most significant growth in the issuance of car loans was revealed in the Belgorod region (by 39.4%), Chuvashia (30.6%), Rostov (22.1%) and Voronezh (21.6%) regions, as well as in the Stavropol Territory (+20 .6%). In Moscow and St. Petersburg, this figure increased by 15% and 18.2%, respectively.
As Kommersant reported, at the end of June, rates on car loans from Russian banks issued for a period of more than three years, for the first time since 2021, were less than 14%. Against the backdrop of a continuing shortage in the car market, bankers can afford to cut rates without losing business margins: average checks on car loans continue to grow at a double-digit pace.
Details – in the publication “Kommersant” “Auto loans are getting cheaper”.
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