Economy

Loan debts of Russians have increased to a record

sanctions

In August 2024, Russians spent 33,9% of the available credit card limit. About this reported the RBC with reference to the data of the Russian bureau of credit histories "Scoring Bureau".

Over the month, the rate of loan expenses increased by 1,9% and became a record since the beginning of 2022, when it was 31,6%.

The Russians have almost continuously increased the share of the used limit on cards since August 2023. At the same time, the average check in the credit card segment reached a maximum in July – $1217.

According to Oleh Lagutkin, director general of Scoring Bureau, Russians' spending on credit cards has increased due to rising consumer prices.

In August, 2,05 million new credit cards worth $2,5 billion were approved for Russians. Compared to the previous month, issuance of new credit cards fell by 3,7% in quantitative terms and by 4,7% in monetary terms.

Year by year, the decline was more noticeable: the number of credit cards decreased by 20,9%, and the total approved limit for them decreased by 11,6%. If we exclude January, when the market has a seasonally low demand for loans, the August reduction in issuance was the strongest since September-October last year.

According to the Central Bank of Russia, by the end of 2023, for the first time, there will be more credit card users than citizens with consumer loans - 27 million people. Over the year, the number of credit card owners in Russia increased by 6,6 million, or by almost a third.

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