Growth in consumer lending in Russia slows to 0.7% in Sept from 1.3% in Aug - Central Bank

MOSCOW. Oct 18 (Interfax) - The growth rate of unsecured consumer lending in Russia slowed to 0.7% in September from 1.3% in August amid rising interest rates and tightening macro-prudential regulation, the Central Bank of Russia said in its report on banking sector development.

Banks issued a substantial volume of loans in the credit card segment, in which rates have always been rather high, thus less sensitive to growth in the key rate, the CBR said in the report.

The auto loan segment accelerated to 5.2% in September from 4.5% in August in anticipation of the hike in the recycling fee as of October 1.