Consumer lending in Russia in modern economic conditions

The analysis of the credit market of Russia shows that the consumer credit acts as the demanded and developed form of crediting in modern economic conditions. Consumer credit plays an important role in the economy, as it accelerates the sale of goods and performs a reproductive function. For 2018 have been issued more than 16 million consumer credit and consumer credit reached 2721,2 Mgr rubles, while in 2017 the volume of consumer lending was 1361,7 bn. rubles’. In the first half of 2019, consumer loans worth 1384.8 billion rubles have already been issued. According to rating agencies, the debt burden of borrowers continues to grow in 2019, as the share of loans with PD above 80 % in the first quarter of 2019 amounted to 9.7 %. This suggests that the expansion of consumer lending is carried out at the expense of already credited individuals. The special attention of credit institutions to consumer lending is caused by the high profitability of credit products for individuals...