Source Pravda.Ru

Foreign banks race to invest in consumer-lending

Splurging shoppers are reaping the rewards of their efforts, with consumer lenders dropping rates and Western banks racing to enter a booming industry that was virtually nonexistent just a few years ago.

Austria's Raiffeisenbank on Monday became the first major foreign bank to offer unsecured consumer loans, affording clients up to $10,000 at 14 percent, an annual rate second only to state savings bank Sberbank. "We introduced unsecured lending in the fall and it tested rather well, so now is the right time," said Michel Perhirin, chairperson of the board of Raiffeisen, the leading foreign retail bank in the country. "We are striving to become a leader in our target audience, which is the upper-middle class."

The world's largest banking conglomerate Citibank, which only recently launched retail services in Russia, says it will soon move into consumer lending too. The bank is planning to launch consumer-lending operations in early February, the St. Petersburg Times reported.

He announced his intention to create a news service called "Pravda," which means "truth" in Russian. Well, we are Pravda. The Pravda.Ru website has been working professionally in Russia since 1999

Elon Musk wants Pravda, but we already have it

The co-author of this disaster is the Dutch government, which did not find either strength or desire to save the lives of its citizens who were flying on that plane. The Dutch authorities did not demand Ukraine to comply with international aviation regulations

Blame MH17 on Russia: International investigation turns into demonic circus

On the second day of the St. Petersburg International Economic Forum, a plenary meeting was held, in which Russian President Vladimir Putin, French President Emmanuel Macron, Japanese Prime Minister Shinzo Abe, Chinese Vice President Wang Qishan and IMF head Christine Lagarde took part

World leaders unite with Russia at St. Petersburg International Economic Forum
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