Page 75 - RusRPTNov22

8.0 Financial & capital markets 8.1 Bank sector overview
The rate of lending to citizens fell sharply in September. Russian banks issued loans in the amount of RUB1.13 trillion, which is 3.9% more than in August, when the figure increased by 27.2% compared to July (RUB1.09 trillion).
Mortgage became the only driver of the market: excluding loans for the purchase of housing, the volume of loans received by the population would have fallen by almost 4% - RUB609.7bn. In August, the same figure rose by 23% to RUB 633.3bn.
Nevertheless, the amount of RUB1.13 trillion was a record for the whole of 2022, follows from preliminary data from the research company Frank RG. The previous maximum was recorded in February, when banks issued RUB1.09 trillion rubles to the population, but approximately the same figures were recorded in August.
Issuance of mortgages in September amounted to RUB525.3bn, which is 14.3% higher than in August, their number reached 141,300 units (16.8% before). Issues increased even compared to last year - by 9%, but in quantitative terms decreased by 10%. This is due to the growth of the average ticket: it amounted to RUB3.7mn, which, although 2.2% less than August, is 21% higher than September 2021.
In the segment of cash loans - the second largest after mortgages - banks issued RUB518bn rubles. in the amount of just over 2mn, which is lower than the results of August by 3% and 5%, respectively. But the average amount of an unsecured loan at the same time increased by 2%, amounting to RUB254,900. By September last year, the segment fell 18.15% in size and grew 2.09% in number.
Banks issued auto loans for RUB62.9bn rubles. in the amount of 51,600 - the decline in both the amount and the number relative to August amounted to about 10%. Compared to last year, the segment fell both in terms of disbursements and the number of loans – by 36% and 33%, respectively.
The volume of POS lending (loans at the point of sale) decreased by 1.7% (RUB28.7bn), but their number slightly increased - by 1.05%, from 1.08mn to 1.09mn. compared to September 2021, the amount of POS loans issued fell by almost 20%, although the number, on the contrary, increased by 46%. At the same time, the average bill for POS-lending after a two-month growth fell by 2.7% - from RUB27,000 in August up to RUB26,200 in September.
Issuance of retail loans, excluding mortgages, collapsed in March due to the onset of the crisis and a sharp increase in rates. Already in April, against the backdrop of a rapid reduction in the key rate, lending began to recover and in
75 RUSSIA Country Report November 2022 www.intellinews.com