In Bashkiria, share of loan rejections reached 77%
That is, out of every hundred applications, only 23 are approved. In Bashkiria, according to July results, the share of rejections for borrowed funds amounted to 77.1% of applications, according to NBKI data, taking into account all types of loans—mortgages, consumer and auto loans, and point-of-sale loans.
23% of approved applications come from clients with a high level of creditworthiness (more than 750 points). Among applications from such clients, the rejection rate drops to 53%.
Banks cannot take risks under the strict restrictions set by the Central Bank and, in turn, impose high requirements on borrowers, experts explain.
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