The Activity of Transnational Banks in the Russian Personal Loan Market

Author: Sava Dimov, Smirnov Valeriy Valerievich - chef of the authors team, Fedunin Aleksandr Sergeevich, Smirnova Vladlena Vitalievna and Medvedeva Mariy Andreevna (Burgas Free University - Burgas, Bulgaria; Financial University under the Government of the Russian Federation - Moscow, Russian)

Keywords: multinational banks, banking sector, consumer lending, Russian market, mortgage.

The Russian banking system is in constant state of motion trying to satisfy the changing needs of the market. Consumer lending in Russia is playing an important role and continuously developing and expanding for the recent time. The rapid volume increase of personal loans issued by banks was one of the key trends in 2018-2019. Growth rates were peaking in recent years, causing the concerns about a possible overheating in the market. As a result, the Central Bank of Russia took measures to limit lending to citizens. Nowadays, there two main questions: what are the reasons of such a sharp increase in consumer lending and is there really a threat of a “bubble” explosion in the market?
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