Penza residents were more likely to take credit cards before the start of the school year

In August, residents of the Penza region began to issue credit cards more often. The last summer month for many families is associated with additional costs, including preparing children for school, so during this period the demand for borrowed funds may increase.

According to Kommersant, citing data from the United Credit Bureau, the number of cards issued in the region increased by 7% compared to July, and the total amount of limits set on them increased by 8%.

Similar dynamics were observed in most regions of the Volga Federal District. On average, the number of credit card issuances for the month increased by 9.35%, while the total volume of limits increased by 3%. At the same time, the average limit on the card decreased by 5.9%.

The most noticeable increase in the number of issuances in the district was recorded in Mari El - by 19%, the Nizhny Novgorod region - by 15% and the Perm Territory - by 14%. In Tatarstan, banks issued 11% more credit cards, in the Kirov region – 10%. The only region of the Volga Federal District where the indicator decreased was Chuvashia: there the number of issuances decreased by 3%.

August credit growth may be associated with a seasonal increase in spending before the start of the school year. Finam analyst Igor Dodonov noted that consumer activity of the population traditionally increases during this period. At the same time, the expert believes that the surge in issuances is likely to be temporary and from September the market may begin to cool.

In general, in Russia in August, banks issued 1.54 million credit cards – 11% more than a month earlier. The total volume of limits reached 173.39 billion rubles, an increase of 6% over the month. The average limit was 113 thousand rubles, down by 6 thousand rubles per month.

According to the expert, the market is also affected by the gradual saturation of the segment: some of the new issuances account for the reissue of existing cards or the transfer of customers from one bank to another. In addition, the fourth quarter is expected to tighten macroprudential limits on unsecured consumer loans, which include credit cards.