Modern financial instruments of consumer credit and their practical application
To date, the development of the retail business of Russian commercial banks is one of the most important components of building up the economic potential of the Russian Federation. Lending to individuals is considered to be the basis of retail banking. This article presents an analysis and practical application of modern financial instruments for consumer credit in the Russian Federation and, in particular, in PAO «Sberbank of Russia» for the period 2015-2017. The statistics of the contemporary retail credit market in the Russian Federation is analyzed, as well as the indicators of the dynamics, volume and structure of loans granted to the population, overdue retail loans, yields of the retail loan portfolio, and weighted average interest rates on retail loans. Based on the results of the study, recommendations for developing financial instruments for lending to the population at the current stage of economic development of the Russian Federation are proposed.