VTB: the volume of cash loan sales in Russia increased by 64%

      August 3, 2026 12:23 Economy According to VTB's estimates, in the first seven months of 2026, the volume of consumer loans issued in the retail market reached 2.9 trillion rubles. Compared to the same period last year, the growth was 64%. According to preliminary estimates by VTB, Russians took out more than 15 million cash loans in the first seven months, which is 43% more than a year earlier. The main factors driving market growth, according to VTB, were the gradual decrease in the key rate and the beginning of the realization of pent-up demand for consumer purposes. "The consumer lending market continues to grow following the adjustment of average market rates, which are now stabilized at 29.3% compared to 32% at the beginning of the year. Russians are gradually returning to postponed large purchases and are actively considering refinancing, which is now becoming economically viable. At the same time, on a monthly basis, the dynamics of consumer loan issuance in July looks more restrained than in the first half of the year. This is largely due to the cautious rhetoric of the Central Bank regarding the key rate - the market is waiting for certainty," commented Alexey Okhorzin, Senior Vice President and Head of the Retail Business Products Department at VTB. According to him, a unique situation has developed in the market, where against the backdrop of declining loan rates, clients still have the opportunity to continue accumulating funds in high-interest deposits: "Clients are still maintaining the trend towards savings: the yield on deposits remains high, and many prefer to place free funds in deposits and savings accounts, receiving high returns monthly," added Okhorzin. *VTB's forecast based on data from the Central Bank of the Russian Federation and Frank RG, excluding POS lending. NIA "Nizhny Novgorod" has channels on Telegram and MAX. Subscribe to stay updated on major events, exclusive materials, and operational information. Copyright © 1999—2025 NIA "Nizhny Novgorod". When reprinting, a hyperlink to NIA "Nizhny Novgorod" is mandatory. This resource may contain materials 18+