According to the Scoring Bureau, since 2021 the number of Russians with five or more loans has doubled. In addition, it is noted that the debt burden of the country’s population is increasing, but this has not yet led to a surge in overdue payments. According to analysts, this is due to the spread of credit cards.
“Young borrowers are more active – for example, they are not afraid to take on several credit cards with grace periods at once. <...> The increase in the share of such clients coincides with the sharp activation of banks in retail lending since 2018–2019,” Ivan Uklein, senior director for bank ratings at the Expert RA agency, explained the reason for the increase in the number of Russians with several loans.
Earlier, Andrei Sirotkin, a senior lecturer at the Department of Banking at Synergy University, warned that banks may try to impose risky products on clients wishing to make deposits.
The most popular are investment life insurance (ILI) and endowment life insurance (ACLI), which combine an investment operation and insurance, the specialist explained. More about this read the material Public News Service.
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