Auto loans plummeting in Tatarstan —

In January-July 2022, citizens of Tatarstan took out consumer loans totaling 42.7 billion rubles. That’s 46.5% less than during the same period last year, says the National Credit History Bureau.

The same applies to car loans in Tatarstan. According to the office, in the first seven months of 2022, 14.2 billion rubles were granted, which is 42.9% less than in January-July last year.

By the number of consumer loans granted in the first seven months of 2022, Tatarstan is sixth among the top 30 Russian regions. Moscow leads the ranking, its citizens took out consumer loans for 166.7 billion rubles during this period. The top 5 also includes Moscow Oblast, St. Petersburg, Sverdlovsk Oblast and Krasnodar Krai.

Consumer loans notably decreased in Stavropol Krai among the 30 main regions — by 52.1%. In the first seven months, its citizens took out consumer loans for 17.3 billion rubles.

Photo: Maxim Platonov

According to data from 4,000 creditors sending data to the office, in January-July 2022, in Russia, consumer loans of 1,350 billion rubles were issued to purchase consumer goods. This is 46.6% less than the same period in 2021.

“The consumer loan situation this year is similar to the quarantine of 2020. In both cases, there is a tendency for some recovery in consumer loans after a fall,” said office marketing director Alexey. Volkov. He said more consumer credit was granted in May-July due to a cut in the Central Bank’s key rate and lower market rates.

Consumer loans in Tatarstan are gradually returning to pre-sanctions levels in February. According to data from the office, in July, residents of the republic took out 33,889 consumer loans, which is 16.4% more than in June.

The average consumer loan in Tatarstan in July was 265,254 rubles. It exceeded the pre-sanction period – in February it reached 245,100 rubles, in January it was 201,700.

Tatiana Dyomina