Source Pravda.Ru

Russian Bank leader sees billion-dollar market looming in car loans

Russia's auto-loan market has the potential to be a USD billion-dollar business. The prediction was made Wednesday at a press conference here by Aleksandr Khandruyev, first vice president of the Association of Regional Banks of Russia, a Rosbalt correspondent reported. Khandruyev noted that bank involvement in automobile purchases in Russia is about 15%, which he called very low by comparison with the rates in several Eastern European countries. The rate in the Czech Republic, he said, is 40%-50% of all car purchases.

The banker also spoke of the relative weakness of Russia's home mortgage market, where home mortgages currently make up 0.3% of the nation's gross domestic product, as compared with up to 3% in developed countries. Khandruyev also spoke of what he described as the great promise of Internet retailing. 'Currently in Russia some 8 million to 10 million people regularly use the Internet, as compared with up to 200 million in the United States. We estimate that the Russian market in Internet retailing has the potential of reaching a level of 400,000 sales a year,' Khandruyev said.

Comments
Russians tired of Putin's foreign policy
US-Russian confrontation: War is peace, freedom is slavery
Kremlin running out of patience as USA tries to create smoke without fire
The insane idea in Germany: "pedophilia normal love"
Russia's long-range Bastion system follows USS Carney in Black Sea waters
Putin convenes Security Council meeting to discuss new sanctions
Turkey desperately tries to rescue its national currency as it falls to all-time lows
Sanctions and economic warfare. Let God take sides
Caspian Convention challenges Gazprom's rule in Europe
Iran shows new ICBM that can evade radars
How can Americans and Russians understand each other?
Turkey desperately tries to rescue its national currency as it falls to all-time lows
Russia builds new robotic tank invulnerable to mines
Russia builds new robotic tank invulnerable to mines
Russia builds new robotic tank invulnerable to mines
US-Russian confrontation: War is peace, freedom is slavery
Turkey desperately tries to rescue its national currency as it falls to all-time lows
How can Americans and Russians understand each other?
Russian government prepares to get rid of US dollar in economy
US-Russian confrontation: War is peace, freedom is slavery
Russians tired of Putin's foreign policy