Page 92 - RusRPTMay21

RUB160bn per month.
In total, as of April 1, the program issued loans in excess of RUB1.3 trillion.
Due to the increased consumer activity, the growth of unsecured consumer lending, up 1.9% in March after growing 1% in February, is in line with the pre-crisis levels. It is not yet clear whether this surge is temporary or whether banks are starting again.
Banks are start to get involved in high-margin lending, as was the case after the 2014–2015 recession, which is fraught with increased credit risk, the CBR warned in its monthly update.
Analysts estimate that as of 1 March, the y/y increase in non-mortgage retail loans was 4.6% vs. 25% for mortgages, which brought the figure for the whole retail portfolio up to 13.8% y/y. In absolute terms, mortgage loans soared RUB 1.9 trillion compared with 1 March 2020, which is four times more than the increase in non-mortgage retail loans (+RUB 473bn) and 42% of the aggregate upturn in RUB loans (+RUB 4.6tn).
92 RUSSIA Country Report May 2021 www.intellinews.com