Dagestan experiences record drop in lending in November 2024

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In November 2024, the banks in Dagestan provided loans worth RUB 4.96 billion, which is approximately 40% lower than in October (RUB 7.76 billion). These statistics were compiled by the United Credit Bureau. The figures reflect a decrease in both the number of loans and their total value.

Specifically, the number of loans granted decreased by 36% from 33,170 to 21,290. In November, Russian citizens took out a total of 3.3 million loans amounting to RUB 731.49 billion, representing a decline of 45% in terms of quantity and 57% in terms of value compared to November 2023.

The sole segment that showed an increase over the past 11 months were car loans, which saw an increase of 68% in terms of number and 69% in terms of volume.

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