23.12.2024, 18:00
In Russia warned about stagnation in the issuance of loans
Source: OREANDA-NEWS
OREANDA-NEWS In 2025, loans in Russia will stagnate. Garegin Tosunyan, President of the Association of Russian Banks, Academician of the Russian Academy of Sciences, warned about this, as quoted by NSN.
According to the expert, next year the market will face tougher regulatory requirements. Such a measure will lead to stagnation in the sphere of issuing loans.,
"It's important not to overdo it here, but we have excessive regulatory influence. This will help to reduce net profit. A decrease in the availability of credit for businesses and the public can slow down economic activity. The strategy of banks already includes income diversification, they are trying to earn more income from commissions, as there will be a decrease in profits from loans," he explained.
Earlier, the head of the Central Bank of the Russian Federation, Elvira Nabiullina, said that Russian banks had noticeably tightened loan rates in recent months, and their level was what it should have been at a key rate of 24 percent per annum. Before the October rate hike, the difference between the base rate and the real loan averaged about two to three percentage points, but now it has reached five to six percentage points.
Nabiullina explained the policy of banks by the gradual abolition of the easing measures introduced in recent years, which was necessary to increase the financial stability of banks. As a result, the growth of lending to individuals has stopped, and corporate credit is showing steady signs of slowing down.
The average total cost of consumer loans (CPI, which includes interest on the loan and all additional payments) in Russia's largest banks exceeded 34 percent. At the same time, the minimum cost of loans reached an average of 28.8 percent (plus three percentage points in two months). In addition, the slowdown in lending may be affected by stricter regulation by the Central Bank — from October 1, 2025, the regulator will oblige credit institutions to require individuals to provide official income documents when issuing loans in excess of a million rubles.
According to the expert, next year the market will face tougher regulatory requirements. Such a measure will lead to stagnation in the sphere of issuing loans.,
"It's important not to overdo it here, but we have excessive regulatory influence. This will help to reduce net profit. A decrease in the availability of credit for businesses and the public can slow down economic activity. The strategy of banks already includes income diversification, they are trying to earn more income from commissions, as there will be a decrease in profits from loans," he explained.
Earlier, the head of the Central Bank of the Russian Federation, Elvira Nabiullina, said that Russian banks had noticeably tightened loan rates in recent months, and their level was what it should have been at a key rate of 24 percent per annum. Before the October rate hike, the difference between the base rate and the real loan averaged about two to three percentage points, but now it has reached five to six percentage points.
Nabiullina explained the policy of banks by the gradual abolition of the easing measures introduced in recent years, which was necessary to increase the financial stability of banks. As a result, the growth of lending to individuals has stopped, and corporate credit is showing steady signs of slowing down.
The average total cost of consumer loans (CPI, which includes interest on the loan and all additional payments) in Russia's largest banks exceeded 34 percent. At the same time, the minimum cost of loans reached an average of 28.8 percent (plus three percentage points in two months). In addition, the slowdown in lending may be affected by stricter regulation by the Central Bank — from October 1, 2025, the regulator will oblige credit institutions to require individuals to provide official income documents when issuing loans in excess of a million rubles.
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