The Ministry of Economic Development of Russia does not see the grounds for statements about the formation of “bubbles” in the lending market, the Office “Lente.ru” reported. The agency disputes the estimates of the Central Bank, where they had previously argued that such a situation was formed in separate segment segments.
According to the Ministry of Economic Development, the “bubble” can be spent in the event that the costs of citizens on debt service exceed 50 percent of their income. We are talking about the so-called level of debt burden, which is now 35 percent. The Ministry of Economic Development is confident that while maintaining current trends and in the absence of sharp increase in interest rates, the loan portfolio can grow by another 12 trillion rubles. Currently, according to the Ministry of Economic Development, the volume of loans of individuals in Russian banks reaches 23.2 trillion rubles.
in the department stressed that now, after growth in 2020, the share of individuals loans with late payments is decreasing over 90 days. Since the beginning of 2018, the indicator has decreased by 3.1 percentage points and remains at the “acceptable” level. “Currently, this is the main evidence that the situation on the retail lending market is not a” bubble “,” commented the deputy head of the department Ilya Toros.
On the risks of bubbles and the historically high level of debt burden in the regulator were indicated in May. In September, the head of the Central Bank Elvira Nabiullina, commenting on record indicators of the issuance of the Credits, said that while speeches about the bubble did not. Nevertheless, she emphasized that high growth rates need to be cooled. Operatively clarify the current position of the regulator on risks in the consumer lending sector in the Central Bank refused.
There are positive trends in the lending market now, noted in a conversation with “Tape.ru” head of the People’s Front project “For the Rights of Borrowers” Yevgeny Lazarev (these organizations of the Ministry of Economic Development used in the estimates of the debt burden). Credit institutions began to pay more attention to the ratio of credit service costs with the income of Russians, and the borrowers themselves grow payment discipline, she explained. However, with an assessment of the admissibility of the level of delay, the specialist disagreed. In the period from 2015, the drawing was really declining, “inappropriate, but stable,” but in a pandemic in absolute expression grew, decreasing only in percentage ratio in the total amount of loans. The reason for reducing the share of overdue debts is mainly due to the significant rates of the credit portfolio growth, which “blurs” the share of delay, agrees Deputy Director of the Group of Ratings of Financial Institutions Agency NKR Egor Lopatin.