Rusfinance Bank is the market leader in Russia in terms of its portfolio and car loan issuance
- 09 June
Rusfinance Bank, a member of Rosbank Group, has taken a leading position in the car loan market in Russia both in terms of sales and loan portfolio. According to Frank RG (as of 01/05/2020), issued car loan volume was almost 24.5 billion rubles, the total volume of the portfolio – 119.9 billion rubles for the first four months of 2020.
Those are the highest rates as of the end of April among Russian credit organizations offering car loans.
Rusfinance Bank has become the industry leader in terms of lending volume with a market share of 13.1% and in terms of portfolio size with a market share of 12.2% (as of 01/05/2020, Frank RG). Progress was achieved due to the expansion of strategic partnerships with car manufacturers and dealers, the active participation of the bank in state programs of preferential car loans and efficient internal transformation.
The bank focuses on developing remote sales channels and remote services for clients. The presence of the bank's own online solution for remote loan approval since 2018, as well as the ability to defer payments for 2 months for free, have provided significant support to its clients and partners, taking into account the self-isolation regime in Russia.
The results of the bank for the first four months of 2020 indicate the high quality of our loan portfolio and successful work to attract customers during 2019 and this year. The growth portfolio is associated with several factors: the availability of the product line, high-quality built system of decision-making, long-term mutually beneficial relations with partners and focus on the car owners who are interested in credit as a financial tool that allows you to purchase a vehicle that meets their needs.
I would like to note that we were aiming at leadership in the Russian market in terms of loans and loan portfolio, but this was not an end in itself. In car loans, Rusfinance Bank primarily focuses on the needs of its client and flexible changes in services to meet the demand and market situation," Sergey Ozerov, CEO of Rusfinance Bank.
Rusfinance Bank offers universal and special car loan programs, as well as the opportunity to use the state program of preferential lending.