Market Research Report
Emerging Opportunities in the Russian Consumer Finance Market: Market Size, Strategies, Products and Competitive Landscape
|Published by||BRICdata||Product code||247171|
|Published||Content info||43 Pages
|Emerging Opportunities in the Russian Consumer Finance Market: Market Size, Strategies, Products and Competitive Landscape|
|Published: July 13, 2012||Content info: 43 Pages||
The report provides detailed market analysis, information and insights into the Russian consumer finance market, including:
The Russian consumer finance market declined in 2009 but managed to recover strongly in 2010 and 2011. The recovery is primarily attributed to the stabilization of interest rates in consumer lending. The consumer finance market recorded a compound annual growth rate (CAGR) of 19.46% during the review period (2007-2011). It is projected to retain a high CAGR of 19.85% over the forecast period (2012-2016). The strong growth will be driven by the country's improving macroeconomic fundamentals and rising domestic demand for consumer finance products. Personal loans is the largest category in the Russian consumer finance market. It recorded a CAGR of 23.79% during the review period. Russia's rising employment levels are expected to generate more demand for personal loans in the country. The improving employment conditions in the country will encourage Russians to increase their personal consumption expenditure, increasing the demand for personal loans. Most Russians take out personal loans to purchase furniture, large household appliances and mobile phones.