The Republic of Kalmykia has been named Russia’s region with the largest number of borrowers, according to a research by RIA Novosti.
The territories with the lowest number of loan recipients are the North Caucasus and the Southern Federal District. Last year saw an upsurge in mortgage activity and volume of auto loans, while now an increasing number of consumer credits is observed, which is due to interest rate reduction. The increased number of loans has also resulted from wage growth.
In the past year, the overall volume of loans in Russia has grown by 19% and reached RUR 17 tln ($273.4 bln). Currently, the average loan debt per individual is RUR 227K ($3,650) against last year’s RUR 37K.