12:03, 8 December 2022 Page views 395 views

Сonsumer lending indicators start demonstrating growth

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Consumer lending market shows signs of revival after its October plunge. This goes against the backdrop of some stabilization of the economic situation and the coming New Year's eve high season. As a rule, the need for money in excess of the usual budget arises on the eve of holidays, in particular, in December. Also, most banks extend a number of promotional offerings by the end of the year, including a reduced rate, less strict requirements, a longer grace period, etc. But despite the increase in demand for the services of credit departments, the overall figures, when compared with last year, show a 25% decline. Analysts do not make favorable forecasts for the next year either. In the future, the global political discord may deepen. Besides, there are no guarantees that the consumer lending will be developing without facing new obstacles that may arise. Banking specialists predict a probable increase in the interest rate for unsecured transactions and mortgage loans with a low amount of prepayment. This also includes the purchase of housing on credit from developers who promise low prices per square meter. The planned innovations, among other things, will definitely not increase the influx of customers.