The total amount of Russians’ credit card debt by the end of July 2024 reached a record level of 4.8 trillion rubles, Izvestia reports based on data from several credit bureaus.
Author:
https://rb.ru/author/ntihonov/
Subscribe to RB.RU on Telegram
The total debt of Russians has increased by 42% compared to last year’s figures. Residents of the country continue to actively open bank cards; their number increased by 16% to 82 million.
One example is PSB Bank. It reported that the number of active credit cards in July increased by 50% compared to the same period last year. The volume of its portfolio increased by 43%. Novikom noted that in early August the number of active credit cards increased by 32%.
According to experts interviewed by the publication, this trend is associated with rising prices for goods and increasing needs of the population. Another aspect was the attractive conditions of credit cards. At Novikom, the percentage of card approvals increased, and the average limit more than tripled: from 48 thousand to 168 thousand rubles.
In July, non-performing debt on retail loans (excluding mortgages) at banks had increased by 6.4% since the beginning of 2024. The growth dynamics turned out to be 1.6 times higher than that for the whole of 2023 (4.3%).
Author:
Nikolai Tikhonov
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
