The Central Bank is concerned about the growth rate of retail lending – Kommersant
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The Central Bank is concerned about the growth rate of retail lending, as it bears the risk of debt load on the population. This was announced by the head of the department of banking regulation and analytics of the Central Bank Alexander Danilov.
“Despite the good results, there are some trends that worry us. This is a high growth rate of retail lending. This carries the risk of debt load on the population,” Mr. Danilov said at a press conference (quoted from TASS).
He added that a high proportion of risky loans in the issuance of mortgage loans in the primary housing market remains. “Banks and developers use various schemes that lead to the fact that LTV (the maximum amount of a loan that a bank can issue to a borrower) is systematically underestimated,” said Alexander Danilov.
The Central Bank revised its forecast for consumer lending growth in 2023 from 9-13% to 13-17%. Earlier, the regulator raised the growth forecast for corporate lending for 2023 to 12-16%, mortgage – up to 17-21%. Retail lending is expected to grow by 8-13%.
According to the Central Bank, retail lending in Russia increased by 2.1% in June. In May, the total retail loan portfolio grew by 2%, the highest value since August 2021.
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