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Most borrowers with cancelled credit holidays resolve their issues with banks

26 October 2020

Some borrowers have returned to their normal repayment schedules without an overdue debt, while others have fully repaid their loans or received payment holidays under banks' own programmes. These liabilities account for almost three quarters of the total number of cancelled credit holidays.

This data from systemically important credit institutions is available in the new issue of the ’Restructuring loans to individuals and companies’ information bulletin. By 21 October, systemically important banks had cancelled 32 thousand applications for credit holidays for a total of 10.8 billion rubles.

All in all, from 20 March to 21 October 2.9 million individuals and 152.9 SMEs applied for loan restructuring. Banks restructured 1.6 million loans to individuals, amounting to approximately 794 billion rubles. Terms of about 92 thousand loans to businesses for 802.8 billion rubles were adjusted, representing 90% of approved applications.

As the deadline for applying for credit holidays expired on 30 September, banks are restructuring loans under their own programmes.