There are a large number of banks in the world that focus on providing loans to individuals or legal entities. The following is a list of banks in which loans to individuals occupy a significant place in the loan portfolio compared to the average for the banking system:
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- Accuracy, reliability, and relevance of the information provided.
- Mutually beneficial cooperation on transparent terms.
- High level of service – process automation, provision of services online 24/7 to both partner companies and individuals.
- The course for self-development – the use of advanced technologies, active development, and implementation of unique solutions on the market.
- Contribution to the development of financial literacy of society.
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The relatively small number of banks that specialize in providing consumers with consumer loans can be explained by the reluctance of banks to take risks, reduced demand from the population, as well as the loss of consumer lending by hybrid banking products, such as credit cards, combined cards, which provide for the possibility of the overdraft, etc.
Lack of economically sound interest rate policy. Thus, in our opinion, despite the high volumes of consumer lending, the level of interest rates, especially on mortgage loans, remains high, which is dictated by the risk of non-repayment of loans. Realization of the bank’s goals in the field of credit relations requires the development of adequate measures for the development and improvement of consumer lending.