Central Bank of Russia has released its first report on Russia’s pawnshop market. The market has been growing.
Most customers tend to choose pawnshops by location, that is, close to their home or job. The majority of loan agreements are signed for up to one month, with the loan amount averaging 11,600 rubles. These data are given in the first issue of the review Pawnshop Market Trends in 2021.
Over the last two years, concentration in the market has been increasing, with the portfolio and amount of disbursed loans expanding, and the number of companies declining. Nonetheless, this market is still represented predominantly by small local pawnshops. These are small businesses whose portfolio does not exceed 10 million rubles.
In the future, the Bank of Russia plans to release publications on pawnshop market trends annually.
There are roughly 2300 pawnshops in Russia. 10 million rubles is roughly Rs 1.07 crore. So about Rs 2500 cr…
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