Mikhail Ershov, Principal Director on Financial Studies, Head of the Financial Analysis Department at the Institute for Energy and Finance, commented on financial issues to Monocle magazine.
Mikhail Ershov notes that, perhaps, the Central Bank does not impose restrictions on consumer lending, as it fears a deterioration in the servicing of previously taken loans by the population.
It is possible to understand this logic. According to the calculations of the Bank of Russia, at the end of last year the total number of borrowers reached 50 million people, and half of the retail loan portfolio of banks were citizens with three loans or more. The number of active credit card users at the beginning of this year exceeded 27 million people.
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