Credit Card Issuance Volumes Plunge to Three-Year Low in Russia

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In November, Russian credit institutions issued 1.11 million credit cards. The total amount of issues reached 104.9 billion rubles. These data are published by NBKI.

The number of issues month to month decreased by 16.3%, year to year - by 25.1%.

The amount of issues in November fell to the minimum level set in April 2022. The decrease month to month was 11.9%, for the year - 37%.

Experts explain this dynamics by tightening of the CB restrictions regarding over-indebted borrowers, the introduction of the cooling-off period for unsecured loans, as well as by general tough monetary and credit conditions.