The share of the largest banks in car lending is growing, a study by OKB showed
At the end of July 2024, 44.1% of the car loan portfolio was accounted for by the largest banking groups, and 36.7% by small and medium-sized banks. Moreover, back in January 2022, the share of small banks in the car loan portfolio exceeded 50%. This is due to the withdrawal of European manufacturers from the market of captive banks. Chinese automakers are not interested in creating their own banks, preferring to work with the largest groups. Lending for used cars remains a promising area for small and medium-sized banks.
Kommersant got acquainted with the data of the United Credit Bureau (UCB) based on the results of July 2024. According to them, at the end of the month, 44.1% of the car loan portfolio was accounted for by the largest banking groups, 36.7% - by small and medium-sized banks, the share of large banks remained at 19%, as over the past year and a half. At the same time, the share of small and medium-sized banks in the auto lending segment shows a rapid decline since 2022: according to OKB, in January 2022, the share of such banks in the overall market auto loan portfolio exceeded 50%. At the same time, the share of the largest banking groups grew: from the beginning of the year by 5.5 percentage points, from the beginning of 2022 - by 15.4 percentage points.
In the OKB study, the largest banks included Sber, VTB, Alfa Bank, T-Bank; to large ones - Sovcombank, Post Bank, MTS Bank, Home Bank, Otkritie, Gazprombank, Renaissance, Rosselkhozbank, Promsvyazbank, OTP Bank, Raiffeisenbank, Russian Standard, Rosbank, Uralsib.
The car loan market has been near historical highs for several quarters. According to Frank RG, in July, 162.8 thousand car loans were issued in the amount of 239.1 billion rubles. In August - 152.4 thousand for the amount of 221.2 billion rubles. (see “Kommersant” dated September 6). In August and September, the trend towards increasing the share of the largest banks continued, market participants agree. And the regulatory measures of the Bank of Russia (increasing risk premiums in car lending; see Kommersant on April 26) are not the determining factor here, says Mikhail Polukhin, director of the ACRA group of financial institution ratings.
Until 2022, the share of captive banks of automobile brands was significant and they were still present on the market, says Ilya Dolgikh, head of work with automakers at Alfa Bank. “Accordingly, taking into account their larger share in parent brands, the share of banks “in total” was lower,” he explains. “In recent years, the increase in the share of the largest banks is due to the increase in the number of joint programs with automakers and the development of post-collateral auto loans.”
The largest banks have more opportunities to coordinate joint programs with manufacturers/distributors of Chinese cars new to the Russian market, admits Sergei Udalov, executive director of the Autostat agency. Chinese automakers are not yet considering options for creating captive banks (see Kommersant, May 20). At the same time, in order to participate in tenders with manufacturers, banks are subject to high requirements for product, technology and regional coverage; often medium and small banks are not ready to compete on these conditions, which is why they may not develop partnerships with brands, says the head of the Auto Lending department. VTB Bank Alexey Bocharnikov. Moreover, car dealers and manufacturers limit the number of participants and the average share of a player in affiliate programs, which creates a kind of barrier to increasing the share within the brand/showroom for the largest banks.
To be included in the car loan program with state support for the purchase of new domestic cars, banks must also meet a number of requirements, so their list is small and changes periodically, adds Natalia Bogomolova, director of ratings of financial institutions of the NRA rating service. Medium-sized and small banks mainly specialize in sales of used cars, however, this market has also been shrinking lately: the usual European brands with mileage of the quality and age required for lending are running out on the market; the secondary market for Chinese cars has not yet been formed, just as the banking sector has not yet been formed. an examination of their assessment of used Chinese cars (see Kommersant on April 22).
