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Mordor: Credit bubble can explode
  • Vitaliy_KiselevVitaliy_Kiselev

    A little less than a third (30 percent) of borrowers in Russia have practically lost their chances to get a loan from banks due to a low personal credit rating, Izvestia writes.

    They account for 8.1 percent of the approvals of applications for consumer loans. Also less than the average value (24.8 percent) is the probability of applicants with an average rating (they are also almost 30 percent).

    Only rich and well-paid Russians, who took out just one or a few loans and repaid them without delay, retained their high ratings.

    It is very dangerous for present scheme. Where bottom 50% pay around 50% of their expenses from new credits.

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