In the first quarter, Russian banks increased the volume of car loans by 2.3 times to 508.5 billion rubles

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AK&M 18 April 2024 18:29

In the first quarter of 2024, Russian banks issued car loans worth 508.5 billion rubles, which is 2.3 times higher than in the first quarter of 2023. This is a record figure for the entire time of observations, the NBKI said in a statement.

NBKI explains such a significant increase compared to the 1st quarter of 2023, among other things, by the effect of a low base due to a shortage of new cars at the beginning of last year.

In the first quarter of 2024, a record 353 thousand car loans were issued, which is 99.2% more than in the same period last year.