Analysis of THE consumer lending in Russia
Subject/Topic The article is devoted to the assessment of the consumer lending dynamics in the Russian Federation. Goals/Objectives The goal of this work is to study the process of consumer lending, determine the patterns and dependencies of its development in Russia, and assess the factors that can affect it. Tasks of the work are to analyze the dynamics of real and nominal wages, their changes by income levels of the population, as well as, to study the dynamics of inflation in the Russian Federation. In addition, the article considers the weighted average interest rates on consumer loans and the average lent amounts for them. Methodology The research of statistical data is carried out, analytical tools as well as theoretical analysis and generalization are applied. Conclusions and Relevance Based on the analysis, the author draws conclusions about the current state of consumer lending, which, in his opinion, is in a position of sustainable development and has conservative trends. The author also makes suggestions for the improvement of the process of consumer lending and minimization of the emerging risks by introducing additional risk-oriented policies, methods and coefficient systems issued and established by the Central bank of the Russian Federation, updating and modernizing existing instructions and creating a single information space on borrowers' debts for banks.