MOSCOW, September 20. /TASS/. The portfolio of unsecured consumer loans of Russian banks added 1.8% in August. The Bank of Russia does not rule out the shift of this market to the phase of sustainable growth as early as in the second half of 2022, according to files released by the regulator on Tuesday.

"In June-August of 2022 the growth of the portfolio of unsecured consumer loans resumed (+0.2% in June, +0.7% in July and +1.8% in August). Amid the reduction of the Bank of Russia's key rate that has already been implemented, the market may be expected to shift to the phase of sustainable growth as early as in the second half of 2022," the document said.

In August, the regulator said unsecured consumer lending in Russia fell by 0.9% in January-July 2022, though the recovery of the sector was very active, with growth in July totaling 0.7%.