Belarusians owe banks over $6bn on consumption loans

Belarusians owe banks almost BYN12 billion (over $6 billion) under consumption loans, loans for housing and cars, installment plan cards, reports TUT.by quoting the statistical data from the National Bank as of 1 April.

The population’s debt to banks amounted to BYN11 billion in November 2018. In June last year, the figure was BYN10 billion.

Demand for consumption loans remains high despite some measures that the authorities undertook to limit the possibilities for new loans.

Earlier this year, the National Bank issued new recommendations for the assessment of the creditworthiness of clients. For example, banks now have access to the Unified Payments History Service to check how potential lenders pay their utility bills as well as their installment plans for purchased goods and services.

If borrowing continues to increase, the regulator may introduce other limitations.