After record results in the POS loan market and reaching a new all-time high for issuance volumes in 2023, the segment has noticeably slowed its growth rate. The increase this year could be 10-15%, writes Kommersant.
According to Frank RG, in 2023 the volume of POS loans issued increased by 42% compared to the previous year and reached 497 billion rubles. The number of such loans increased by 23%, reaching a record figure of 15 million in ten years.
This year market participants do not expect such values. According to Tinkoff Credit Broker forecasts, in 2024 growth could be around 10%. NRA analysts also estimate segment growth of 10%. ACRA expects market growth rates of 10% to 15%.
This year, the growth of the segment will be significantly ensured by an increase in the amount of loans against a backdrop of rising prices for goods, the popularization of installment payment plans as a payment method and the connection of new retailers . At the same time, high rates and tightening macroprudential limits will limit growth.
The growth will also be affected by the activities of the markets with the participation of related banks. “Marketplaces are driving potential buyers away from traditional retail, where installment payment services for buyers have been introduced,” says Maxim Zaitsev, director of Tinkoff Credit Broker.
- In 2023, Loko-Bank decided to enter the POS lending market. For most banks, this segment is interesting as an additional tool to find customers and sell higher-margin products. Competition here is also intensifying due to the rapid development of the related installment market.
Author:
Karina Pardaeva
Source: RB
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