The Current Situation with Individuals’ Crediting in the Russian Federation

Abstract

In conditions of current economic difficulties in the Russian Federation the process of individuals’ crediting is still one of the most important lines in supporting and developing the bank sector in the country. Individuals’ crediting is a type of bank crediting, which stipulates cash provision on the loan basis to the population in order to satisfy people’s different needs: purchase of consumer goods, payment of services, buying cars, construction or purchase of housing and real estate of customer purpose. Individuals’ crediting has a multi-purpose character, which results in availability of its different types. For the last decade consumer crediting has shown a serious growth, however the present situation can drastically change. The article provides findings of the research dealing with the process of individuals’ crediting in the Russian Federation and shows analytical materials dated 2010–2020. The author conducted the dynamic analysis of individuals’ crediting, studied information about loan applications and their approvals of potential borrowers, including wage clients, banks and demonstrated a share of borrowers’ credits in certain banks. The author also provided the results of forecasted volumes of credits to individuals up to 2024 by the trend equation with using possibilities of applied programs Statistica 8.0 package.

Keywords

• bank sector
• application
• approval
• forecasting
• regression equation
• dynamics
• indebtedness