Page 109 - RusRPTJul23

seeking to increase lending volumes before the tightening of macro-prudential limits from July 1, 2023 6.
The recovery of consumer lending (with an increase of approximately 13% over the past 12 months, including write-offs and sales) slightly outpaces the nominal growth of wages (~11% 7), which raises concerns. The forthcoming tightening of macro-prudential limits from July 1, 2023, may somewhat cool down the pace.
The credit quality indicators of the lending portfolio currently remain stable (see page 5). The Central Bank of Russia is closely monitoring the situation and is prepared to take additional measures to cool down the market if necessary.
109 RUSSIA Country Report July 2023 www.intellinews.com