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Russian Personal Debt Rose 30% Last Year

Personal debt in Russia rose by 30% in 2015 according to Vladimir Shikin, the deputy director of the National Bureau of Credit Histories. 

He said that the general level of personal debt in Russia currently stands at over 1 trillion rubles (€11.3 billion).

Shikin said in an interview to a Russian newspaper that there was a “rise in personal debt, both in rubles and as a percentage of the volume of existing loans.”

There has also been a significant increase in defaults of unsecured and credit card loans in the country, with mortgage repayments showing less problems.

Whilst personal debt in Russia rose, banks have begun to evaluate potential borrowers more carefully in 2015, especially in the unsecured personal loan market.

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