The growth of retail lending in 2019 will slow down due to saturation of demand and increasing rates, analysts predict S&P. But banks will still be more profitable to lend to people: on the corporate market in particular there are no prospects
Photo: Alexander Artemenkov / TASS
The retail lending market in Russia, demonstrated in the last two years, significant growth is nearing the saturation point, analysts of rating Agency S&P. Although the volume of issuance of mortgage and consumer credits in 2019 will continue to grow, the rate of growth will gradually slow down to 15-18%, said the study S&P Global Ratings. By the end of 2018 retail lending will grow by 20-22%.
To limit the growth of volumes of crediting of the population, according to S&P will contribute to the following factors:
- gradual saturation of the demand for loans from consumers;
- the weak dynamics of growth of disposable income;
- adopted by Central Bank measures to curb growth of consumer lending;
- the absence of factors that could lead to the rapid decline in interest rates.
The situation has changed