Late in the year, Russian banks have been issuing less credit cards. Experts believe that is the way for banks not to get involved with people who may be unable to repay borrowed money.
In November, 691,400 credit cards were issued which is 8.2% less than in October. In December, the number declined further. On the average, lending limit has been also cut down.
Financial institutions have thus changed their lending policy in order to lower credit risks and reduce possible future losses.