Consumer finance market
Posted on Nov 4, 2000 08:15:27 AM
The development of retail banking services in Russia is gaining rapid momentum and is the subject of “number one” for discussion in the financial community that has a significant influence on the development of the banking sector as a whole. According to the agency “Rus-Rating, the growth in retail lending by banks continues – since the beginning of 2006 the volume of loans increased by 18% and exceeded 1.3 trillion. rub., and the total share of retail loans is almost 24%. But, despite the fact that the Russian sector of retail banking services is growing faster pace, it remains underdeveloped, analysts say the international rating agency Standard & Poor’s. Great new opportunities for market participants are associated with some difficulties … The problems and prospects of development of retail banking in Russia, said yesterday at the Second International Forum “Retail Finance 2006″, brought together leading Russian expert retail lending.
“At first glance issue may seem trivial, as forecasts for a very, very favorable, but for a positive assessment, in fact, conceals fundamental qualitative changes in the system of banking services, which have long-term prospects,” – said one of the participants, leading practitioners and analysts of banking, vice president of the Association of Regional Banks “Russia” Alexander Khandruyev. Moreover, he said, the process involved both large and small banks, and it is fraught with danger. Steadily increasing number of banks that provide residential mortgage loans.
According to experts, mortgage lending – one of the most promising areas of retail banking services in Russia. Constantly increasing both the number and volume of loans granted to organizations. According to the Association of Russian Banks, “in 2001, Russia was granted mortgage loans in the $ 56 million in 2002 is now $ 260 million in 2003, the total volume of loans reached about $ 500 million by end of 2004 there is expected to double, and the volume of mortgage loans by all operators – both banks and foundations – reached a milestone of $ 1 billion, according to the Central Bank of Russia in 2005 for the purchase of housing have been issued $ 2.6 billion in the last few years, Russia is experiencing a boom of mortgage lending . And the market potential is huge: by 2010 the amount of mortgage loans could reach nearly $ 15 billion At the same time, according to analysts, the potential demand for mortgage products in Russia is about $ 50 billion by the assumptions of the experts, after the fall of rates in the market below 10% per year annual consumer demand for loans will increase by $ 3.2 billion as the reason for the rapid growth of mortgage lending?
bank debt, credit, lending,- Credit cards – the future of consumer lending
- Black brokerage in consumer credit
- Market small business lending
- Forms of credit
- What is the system of lending