Household debt burden slightly decreased: CHB data
The reduction in the outstanding amount on unsecured consumer loans, according to the largest credit history bureaus (CHBs), led to a decrease in the debt burden of households for the first time in seven years. In the second quarter of 2022, this indicator decreased by 0.2 pp, to 11.4%, according to the information and analytical material Analysis of Trends in the Retail Lending Segment Based on Data from Credit History Bureaus for the first half of 2022.
Contrastingly, credit card debt edged up to 2.7% as demand for this product increased.
The total number of bank borrowers over the said period decreased from 42.4 million to 42.1 million.
Against the backdrop of rising housing prices, the amount of new housing loans continues to grow. One reason for this is the widespread use of preferential programmes of developers. Such programmes offer loans at very low interest rates while overestimating the value of real estate. At the same time, in the second quarter of 2022, the proportion of mortgage loans with unsecured consumer loan used as down payment decreased from 6.1% to 3.9%.