Consumer Lending in Conditions of Macroeconomic Instability and Pandemic COVID-19

The article is devoted to the assessing of the condition of the consumer lending market in the Russian Federation in the context of macroeconomic instability and the COVID-19 coronavirus pandemic. The banking sector is an important element of the financial system, on the state and stability of which the condition of the country’s economy depends. That is why, at the very beginning of the article, the authors analyze the state of the Russian economy and the banking sector in 2007–2019 based on the consideration of the main macroeconomic indicators, in particular, among which: GDP in constant and current prices, the ruble exchange rate, oil prices, inflation, the volume of attracted deposits of individuals and legal entities, investments of credit institutions in securities, own funds, assets of the banking sector and the number of banks. It also provides the characteristics of the system and analyzes the dynamics of the main indicators of the consumer lending market in the period under review. According to the results obtained as a part of the study, it was revealed that a large number of consumer loans were issued during the period under review, and the population is over-indebted. At the same time, the excessive debt burden of the population and commercial organizations “slows down” the growth of the Russian economy. Against the background of the COVID-19 pandemic, the portfolio of consumer loans has declined, average interest ra