The volume of cash loans has decreased for the fifth consecutive month, the United Credit Bureau (UCB) reported. In January 2024, compared to December 2023, the volume of new cash loans decreased by 13%, while their number increased by 1%.
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In the first month of the year, 2.41 million loans worth 406.83 billion rubles were granted; a month earlier, 2.39 million loans worth 466.92 billion rubles. The average amount of cash loans in January decreased by 14%: from 196 to 169 thousand rubles.
Annually, new cash loans fell by 9%, while their number increased by 14%. The average invoice for the year decreased by 20%.
In terms of issuing cash loans, the top five regions in January included Moscow (147.82 thousand loans worth 40 billion rubles), Moscow Region (138.38 thousand loans worth 30.36 billion rubles), Krasnodar Territory (102.68 thousand loans worth 17.91 billion rubles), St. Petersburg (70.03 thousand loans worth 16.68 billion rubles) and the Sverdlovsk region (79.46 thousand loans for 13.10 billion rubles).
- Currently, the Bank of Russia has set the key interest rate at 16% per year. The regulator did not change this indicator at its meeting on February 16. Previously, the key rate was increased five times in a row.
- The key rate is the minimum interest rate at which the Central Bank grants loans to commercial banks. Once such a loan is received, the banks themselves grant loans to businesses and retail consumers at their own interest rate, which is higher than the Central Bank’s interest rate.
Author:
Anastasia Marina
Source: RB
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