Press Releases

Renaissance Credit reports on performance of its POS business in 1H2020

Renaissance Credit has reported the results of its POS business in the first half of 2020. The bank has again joined the top-3 players by the size of its POS loan portfolio: at 1 July 2020 it reached 30.7 billion roubles. The share of Renaissance Credit on the market of POS lending has increased up to 14% which is a record-high level for the bank.

During the first six months of 2020 Renaissance Credit has issued POS loans for the amount of 17.9 billion roubles which translated into 14,7% of the total market origination. As at 1 July 2020 the bank also ranked number three among players of the segment in terms of POS loan origination.

Comment by Sergey Vasilyev, Senior Vice President, Director of Department for Distribution of Banking Products at Renaissance Credit: “We are gradually increasing the volume of POS loan origination. The bank still maintains its focus on co-operation both with the large federal partners and small retailers. We are also actively developing segments with larger purchase amounts - like two-wheeled motor vehicles, cars, house-building. We see good prospects for ourselves in POS lending and expect the bank will remain among the top 3 market players - given the long track record and successful performance of the bank in the segment.”

The number of retail points of sale where clients can apply for POS loans of the bank reached nearly 106 000 at the end of June.

In 1H2020, POS loans were issued most often to women (59%). In terms of age, 27.3% of clients were aged 31-40 years, 20.9% – 24-30 years and 20% – 41-50 years.