Belarus’ consumer lending grows 37% in March amid devaluation expectations - National Bank
<p> MINSK, Apr 30 - PrimePress. Consumer lending expanded by 37% month on month in March 2020 to reach Br1.2bn ($487.2m) amid expectations of home currency devaluation, according to a report released by Olga Ilyukevich of the National Bank of Belarus’ Main Department of Banking Regulation. </p> <p> “In March, banks issued Br1.2 billion worth of consumer loans of ($487.2 million, $1 - Br2.463), which is 37% more than in February. This is due to devaluation expectations. In April, however, there was a significant decrease in demand for loans: the debt on consumer loans decreased by 1.7%. This is due to the fact that banks have restricted the supply of loans for credit products. They suspended some credit products. The activity of the borrowers is decreasing, while citizens adopt a rational policy on borrowing,” said Ilyukevich. End </p>
2020-05-04
Primepress
Belarus’ consumer lending grows 37% in March amid devaluation expectations - National Bank
MINSK, Apr 30 - PrimePress. Consumer lending expanded by 37% month on month in March 2020 to reach Br1.2bn ($487.2m) amid expectations of home currency devaluation, according to a report released by Olga Ilyukevich of the National Bank of Belarus’ Main Department of Banking Regulation.
“In March, banks issued Br1.2 billion worth of consumer loans of ($487.2 million, $1 - Br2.463), which is 37% more than in February. This is due to devaluation expectations. In April, however, there was a significant decrease in demand for loans: the debt on consumer loans decreased by 1.7%. This is due to the fact that banks have restricted the supply of loans for credit products. They suspended some credit products. The activity of the borrowers is decreasing, while citizens adopt a rational policy on borrowing,” said Ilyukevich. End