The peculiarities of development of consumer lending in the conditions of pandemic on the example of ZENITH Bank

Abstract

The consumer segment of the credit services market is undergoing complex transformations due to systemic changes in the economic space caused by the pandemic. The subject of this research development trends in the market of consumer lending in the conditions of pandemic. The object is the credit services market in the context of digitalization. The article explores the peculiarities of development of the segment of consumer lending in depository institutions. Research methodology employs the method of statistical analysis and forecasting the development of trends in the area under study. The source information includes the official statistics on the dynamics of financial sector of the Central Bank of the Russian Federation, available analytical sources and reports of ZENITH Bank. The main results lies in outlining the current trends in the development of consumer lending in the conditions of digitalization due to the pandemic. The author examines the ratio of the credit portfolio of the leading banks to the level of overdue debt, the structure of retail lending in the scope of credit portfolio, types and specificity of consumer lending products. Recommendations are formulated for stabilization of operating results of the commercial banks. Practical significance of the acquired results lies in revealing the impact of the ongoing changes upon the activity of depository institutions, attending risks, and vectors of the development of banking sector under the current conditions. The novelty consists in studying the experience of operation of medium-sized bank in crisis period, as well as in outlining the directions for improving its reliability and profitability.