DIVERSIFICATION OF BANKING CREDIT PRODUCTS AS A GUARANTEE OF ACTIVE CREDIT ACTIVITY OF JSK OSCHADBANK

Abstract

The article is devoted to topical issues of diversification of banking activities in terms of increasing the supply of bank loan products that meet the customer requirements. A necessary condition for ensuring the stability of the banking system is the development of bank lending. Diversification is one approach to development. But it requires professional management and good market knowledge. The constant change in the conjuncture of the banking services market and openness to the external environment require banks to be in constant search for markets and search for new loan products. The implementation of credit functions by banks presupposes the availability of credit products at their disposal, which are needed for credit operations. In the competitive environment of the functioning of the financial market, the volume and quality of banking products determine the main directions and directions of their activities, the composition of the clientele and the level of income received. In this regard, it is relevant to study the essence of the concept of a bank loan product and generalize the views of domestic and foreign scientists. The aim of the study is to analyze the diversification of banking activities in the context of expanding the offer of bank loan products that meet the requirements of customers, using the example of loan products of Oschadbank JSC. The results of the analysis of the diversification of credit products in Oschadbank JSC showed that the development of any credit product should take into account consumer advantages and the capabilities of its potential borrowers. If, in order to increase the attractiveness of the product to the consumer, it is impossible to reduce its price – the loan interest rate, then the bank can change its other consumer characteristics. These characteristics may include lending and servicing procedures. The greatest effect from a new loan product will be achieved through additional benefits for borrowers – privileges. Of greater interest to borrowers is precisely the set related services and benefits that ensure the loan is unique and targeted nature, which will distinguish it from loans provided for general conditions. Providing certain benefits will stimulate interest customers to loans, making them more affordable, which is very important in practice.