LOAN APPLICATIONS OF 60% RUSSIANS WERE REJECTED IN 2020

According to statistics of the National Bureau of Credit Histories, in 2020, only 33.9% of Russians received retail loans approval from banks. As a result, the three-year anti-record was cut.

As noted by RBC, this is due to the tightening of the banks' policies, while the most tangible increase in refusals was observed in the field of car loans. If in 2019 almost 57% of applications were rejected, then in 2020 their number was already 62%.

The number of unsecured loans and credit cards also declined - banks approved only 31% of applications.

However, in mortgages, the situation is the opposite - more applications were approved than in the last four years, 71.3% of Russians received loans.

The National Bureau of Credit Histories notes that the increase in the number of approved mortgages is associated with the state support program. Thanks to the provided benefits for the purchase of housing in new buildings, more Russians were able to apply for the purchase of real estate.

The most frequent refusals in retail loans were received by borrowers who applied in March-April 2020, which was associated with high risks due to the coronavirus. The situation began to be compared with the pre-crisis indicators only by November.

However, some experts believe that the pandemic is not the only factor in the current situation, since the number of approved loans has gradually decreased over the past few years. This is associated with the measures of the Central Bank, which oblige to take into account the indicator of the debt burden of a potential client.