Krasnodar, 26 March. Kuban residents have begun to take bank loans more actively. What is at issue concerns car credits, mortgage and micro loans, as well as credit cards whose limits are also growing.
At the same time, Krasnodar krai is in the top of the list of Russian regions with the highest amounts of overdue credit debts, the Russian Credit Agency stated.
In 2020, Kuban dwellers received 520 billion roubles as bank credits, which was by 11% more than in 2019, the press service of the Southern Main Branch of the Bank of Russia announced. It is also worth noting in 2020 that the region’s retail credit portfolio grew nearly by 15% exceeding 685 billion roubles as on January 1.
During the same period, the mortgage credit portfolio grew by 25% to 271 billion roubles. In total, banks issued 54,000 mortgage loans over 117 billion roubles worth in Krasnodar krai, which was by 38% more in numbers and by 52% more in monetary terms than in 2019.
According to the National Credit Reporting Agency, the average sum of a mortgage credit in January 2021 in Krasnodar krai amounted to 2.39 million roubles, or by 14.1% more than in January 2019.
In January 2021, the Kuban region was the nation’s fourth region with the biggest average sum of car credits. In Krasnodar krai, this sum amounts to 984,200 roubles (by 8% more than a year ago).
The microlenders also showed a significant growth in the number of issued microloans. The Kuban region was found in the top three Russian regions on the number of such loans with 73,780 loans issued in January 2021 (by 38.7% more than in January 2020). Our interviewees asserted that it was the economic crisis and the pandemic that made people look for the money for their daily needs – which is why the number of credits grew so drastically. According to the regional statistical agency, the average wage in 2020 was 37,666 roubles, or by 2.8% more than in 2019. However, the real wages calculated with due account given to the rising consumer prices did not go up.
“In 2020, 133 Krasnodar dwellers submitted documents to declare them bankrupts extrajudicially. The relationship is quite clear: more credits mean more bankruptcies,” Dmitri Dmitriev, UDM Law Firm Development Director, commented.
Artem Deyev, Head of AMarkets’ Analysis Department, says: “Data on Krasnodar krai correlate with the national trend: every eighth Russian citizen who took a bank credit, is in arrears with his/her bank or microlender – altogether, 42 million citizens have been issued credits. Last year, the plaintiffs considered nearly 13 million debt collection cases. It proves that Russians are diving ever more deeply into the debt pit. The situation in Krasnodar krai is aggravated by the fact that a considerable part of our fellow countrymen live on seasonal earnings made during the tourist season – and the previous year significantly affected the tourist flow and, consequently, the level of the people’s income.”
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