10.Apr .2021 00:00

Russian Households and Businesses Still in Need of Loan Restructuring

Russian Households and Businesses Still in Need of Loan Restructuring
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Based on the information reported by banks to the regulator, they received 98,600 loan restructuring applications from households over the period from 25 February through 31 March 2021 (vs 79,500 from 28 January through 24 February 2021).

The number of applications increased by almost one-fourth, which was due to the longer duration of the recent monitoring.

Over the year (from 20 March 2020), households requested banks to change their loan agreements nearly 3.5 million times. As of now, banks have approved 1.9 million loan restructuring applications, reads the latest data published by the Bank of Russia. 
 
Over the recent monitoring period, businesses applied to banks for loan restructuring about 4,000 times (vs approximately 5,000 from 28 January through 24 February).

As regards small and medium-sized enterprises, banks changed 98,900 loan agreements over the past year (restructuring applications numbered 191,700).